India industrial production was up 3.2% YoY in December, down from 5.0% YoY in November and below expectations of a 3.9% YoY annual increase.

• Manufacturing production was up 3.0% YoY, down from 5.5% YoY previously
• Mining (+2.6% YoY) and electricity (+6.2% YoY) both saw accelerations in their annual rates in December vs November.
• Electrical equipment manufacturing is up a sharp 40.1% YoY and in the fiscal YTD period (Apr-Dec) is up 24.8% YoY.
• The industry with the largest weight, basic metals manufacturing, is up 6.7% YoY.