India's industrial output grew 8.0% year-on-year in August. Markets are pricing a Reserve Bank of India hike in October anyway, as Brent crude nears $107 a barrel. Brazil's central bank cut rates into a surprise inflation spike two weeks before its election.
MoSPI’s official IIP release flags a third straight month of 8% or faster manufacturing growth after August output beat the 6.5% consensus. Source
India's Ministry of Statistics and Programme Implementation (MoSPI) put August Index of Industrial Production (IIP) growth at 8.0% year on year, well past the 6.5% consensus and above an upwardly revised 7.4% in July. Manufacturing, the index's heaviest component, accelerated to 9.0% from 8.2%, with electrical equipment up 30.9% and capital goods up 16.9%. Most emerging-market central banks would build an easing case around a print like this.
