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India's Industrial Output Growth Slows to 6.7% in July

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India's year-over-year industrial production growth decelerated to 6.7% in July from 7.3% in June, according to quick estimates from the Ministry of Statistics and Program Implementation released on Friday.

The reading beat the consensus forecast of 6% growth tracked by Investing.com.

By sector, manufacturing output, which carries the largest weight in the Index of Industrial Production (IIP), grew 7.3% year over year. Meanwhile, mining activity edged down 0.9%, electricity and gas supply rose 8.7%, and the water supply, sewerage, and waste management sector climbed 7.4%.

Under use-based classification, primary goods output climbed 4.1% year over year, while capital goods output rose 16.1%. Production of consumer durables climbed 10.5%, and consumer non-durables recorded a 1% decrease from the same period last year.

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