India's July industrial output growth slows to 6.7% y/y as mining contracts

NEW DELHI: India’s industrial output growth slowed to 6.7% year-on-year in July, data showed on Friday, as mining activity contracted, with growth in manufacturing and electricity output also easing. Economists polled by Reuters expected industrial output growth to slow to 6% in July from a revised 8.8% a month earlier. In May, the government had shifted to producer prices from wholesale prices for factory output calculation. Manufacturing output grew 7.3% year-on-year in July against a revised growth of 9.5% in June. Electricity generation rose 8.7% year-on-year in July against a revised increase of 11.3% a month earlier. Mining activity declined 0.9% year-on-year in July against a revised growth of 1.6% in June. India’s infrastructure output rises 5.4% y/y in July Output of consumer durables, including cars and phones, grew 10.5% year-on-year in July against a revised 10.3% increase a month earlier. Output of consumer non-durables, such as food items and toiletries, fell 1% year-on-year in July against a revised 5.6% rise in the previous month. Capital goods output rose 16.1% year-on-year in July against a revised 17.9% increase in June. Industrial output in April-July grew 6.3%,