India's industrial production growth eased to 2 percent year-on-year in June 2019 from an upwardly revised 4.6 percent in the previous month, but above market expectations of 1.5 percent. Output rose at a slower pace for manufacturing (1.2 percent vs 4.5 percent) and mining (1.6 percent vs 2.4 percent). On the other hand, electricity production rose at a faster 8.2 percent, compared to 7.4 percent in May. Industrial Production in India averaged 6.26 percent from 1994 until 2019, 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 5.40 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 3.20 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.