New Delhi, Sep 1 (PTI) Factory output grew unexpectedly in August to bring the countrys manufacturing sector back into growth zone on surge in new business orders after the GST-related contraction in July, a monthly survey showed today. A rebound in manufacturing sector bodes well for a higher GDP growth rate in the current July-September quarter. All the three monitored sub-sectors posted substantial recoveries, with capital goods outperforming its consumer and intermediate goods counterparts in terms of production growth rates, as per the PMI survey. "Output charges were raised marginally and at a rate that was muted in the context of historical data," Lima said. "After a loss of momentum in fiscal year (FY) 2016, IHS Markit forecast the Indian economy to recover marginally in FY 2017, with real GDP growth expected at 7.3 per cent," Lima added.

Source: India Today September 01, 2017 12:44 UTC