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India's industrial output grows by 3.5% in July
India's industrial output grew by 3.5% in July 2024, hitting its best mark in four months.
This is a solid jump from June's slower pace, with manufacturing leading the charge—up by 5.4%.
The boost was supported by strong government spending on infrastructure and construction projects.
Manufacturing leads the charge
Manufacturing saw big gains from basic metals, electrical equipment, and building materials.
Infrastructure goods hit a nearly two-year high, and even consumer products got a lift thanks to pre-festive demand.
On the flip side, mining dropped by 7.2%, showing there are still some bumps in the road for energy and raw materials.
Economists expect this positive trend to continue into August as investment stays strong.