MUMBAI, India (AP) — India says industrial production rose 2.7 percent in August, more than expected on a rebound in mining activity, though investment still appears weak.
Markets took the news in stride, suggesting that investors believe the numbers will have little impact on whether the central back decides to cut interest rates later this month.
Mining output rose 2.0 percent, marking a turnaround from a 5.5 percent contraction a year earlier. Manufacturing rose 2.9 percent and electricity output increased 1.9 percent in August from a year earlier.
Friday's data also shows that production of capital goods — a sign of investment in physical assets such as machinery — slid 1.7 percent.
The government revised its July figures, saying output contracted 0.2 percent, down from its earlier estimate of 0.1 percent growth.