Economy / India
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Macroeconomic Forecast India
September 2004 | Macroeconomic ForecastsSorry, you must be a subscriber to view this article in full. If you are a subscriber please login.
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BMI View: July was a busy month for Indian factories. Industrial production rose 7.9% y-o-y with consumer goods output up a double-digit 10.3%. The strong numbers come amid concerns that poor monsoon rains will lead to weaker industrial growth this year. According to the Indian Meteorological Office, the official weather agency, rainfall was 12% below normal between June 1 and September 8 with north-western states the worst affected. It is still too early to assess the impact of delayed rains on the industry sector and our forecast of 6.0% real GDP growth holds.