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India's Industrial Output Growth Quickens to 5.1% in May

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India's industrial production growth expanded to 5.1% year over year in May, according to quick estimates from the Ministry of Statistics and Programme Implementation released on Monday.

The reading beat the consensus forecast of 4.7% growth tracked by Investing.com, and compared with a 4.9% increase recorded in the previous month.

By sector, manufacturing output, which carries the largest weight in the Index of Industrial Production (IIP), grew 5.5% year over year. Meanwhile, mining activity edged down 1.6%, electricity and gas supply rose 9.9%, and the water supply, sewerage, and waste management sector climbed 5.5%.

Under use-based classification, primary goods output climbed 2.6% year over year, while capital goods output rose 12.9%. Production of consumer durables climbed 7.2%, and consumer non-durables recorded a 3.6% increase from the same period last year.

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