India's industrial production grew 3.1 per cent in September, according to official data released on Friday. The Index of Industrial Production (IIP) had grown 4.4 per cent in September 2021. As per the IIP data released by the National Statistical Office (NSO), the manufacturing sector's output grew by 1.8 per cent in September 2022. The mining output rose 4.6 per cent and power generation increased 11.6 per cent during the month.
Asia is extremely reliant on China. Its zero-COVID policy continues to disrupt supply chains and keep Chinese travelers from returning to Asian tourist destinations. It's also hurting region's exports
Chinese consumer spending and factory output edged up in August but still were weak, official data showed Friday, and forecasters warned the second-largest economy is vulnerable to repeated shutdowns of cities to fight virus outbreaks. Housing sales plummeted while prices edged lower, adding to a slide in real estate activity under pressure from a government campaign to control surging corporate debt that set off an economic slump in mid-2021. China's economy held up slightly better than anticipated last month, but momentum still weakened, said Julian Evans-Pritchard of Capital Economics in a report. September is shaping up to be even worse. Chinese leaders are trying to prop up economic growth that sank to 2.5% over a year earlier in the first six months of 2022, less than half the official 5.5% target, without big stimulus spending that might push up debt and housing costs. Economists say this year's Chinese economic growth might come in below 3%, less than half of last year's 8.
While the Manufacturing Purchasing Managers' Index remained resilient, it fell to a nine-month low of 53.9 in June from May's 54.6
Electricity output rose to double digits in April
PMI manufacturing was recorded at 54.6 in May, a minor change from 54.7 in April
Factory output shows poor growth at 1.9% in March
Omicron-led lockdowns across the country reduced demand for goods and services
Manufacturing output contracted 0.1% while mining and electricity grew at 2.6% and 2.8%, respectively
A sub-index on job growth showed employment expanded for a second successive month in January.
The Manufacturing Purchasing Managers' Index, compiled and collected by IHS Markit from Jan. 12-25, fell to 54.0 in January from Dec's 55.5.
Retail sales posted their third straight month of year-on-year gains in December as low coronavirus cases encouraged shoppers
Rising pricing pressure in clothing and footwear (8.3%) and fuel group (10.95%) contributed to the rise in retail inflation while food prices rose to 4.05%
Industrial output last month unexpectedly fell by a seasonally adjusted 3.0% month-on-month
Goldman slashes its Q3 growth forecast to 0%, from 1.3% earlier
China's factory activity slipped into contraction in August for the first time in nearly 1-1/2 years.
Growth in IIP was led mainly by the manufacturing sector, which grew 13%
The producer price index climbed 9% in May from a year earlier, driven by price increases for oil, metals and chemicals, the National Bureau of Statistics said
A spike in COVID-19 infections in countries like Taiwan and Vietnam could disrupt semiconductor output and supply chains, posing a headache for manufacturers
China's industrial output saw months of expansion following a Covid-induced slump, although high raw materials costs continue to weigh on the outlook