India's industrial production fell 1.1 percent year-on-year in August 2019, following an upwardly revised 4.6 percent gain in the previous month and missing market expectations of a 1.8 percent rise. It was the sharpest decline in industrial output since February 2013, as production dropped in manufacturing (-1.2 percent compared to 4.5 percent in July) and electricity production (-0.9 percent compared to 4.8 percent). Additionally, mining output rose 0.1 percent, slowing from a 4.8 percent increase in the prior month. Industrial Production in India averaged 6.24 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 2.00 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 1.50 in 12 months time. In the long-term, the India Industrial Production is projected to trend around 4.50 percent in 2020, according to our econometric models.