India's industrial output rose 8.1 percent from a year earlier in October 2018, following a 4.5 percent growth in the previous month and easily beating market expectations of 5.7 percent advance. It was the steepest increase in industrial production since November last year led by strong output expansion for all sectors: manufacturing (7.9 percent vs 4.6 percent in September); mining (7 percent vs 0.1 percent); and electricity (10.8 percent vs 8.2 percent). In April to October 2018-19, industrial production rose 5.6 percent, compared to 2.5 percent growth in the same period of the previous fiscal year. Industrial Production in India averaged 6.38 percent from 1994 until 2018, reaching an all time high of 19.90 percent in November of 2006 and a record low of -7.20 percent in February of 2009.
Industrial Production in India is expected to be 4.10 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Industrial Production in India to stand at 5.40 in 12 months time. In the long-term, the India Industrial Production is projected to trend around 6.50 percent in 2020, according to our econometric models.