India's industrial production slid by an unexpected 1.9 percent in February, data showed Friday, underscoring the huge economic revival challenge facing the new government that emerges from elections now under way. The tumble in output in February from India's mines, factories and utilities from the same month a year earlier surprised analysts, who had expected a 0.9 percent rise.
Manufacturing output, accounting for over three-quarters of the Index of Industrial Production, slid by 3.7 percent in February. Output of capital goods, such as plant equipment - a strong harbinger of investment intentions - plunged 17.4 percent.
"There is little on the horizon likely to lift demand or production," said Moody's Analytics analyst Glenn Levine.
But he held out hope that when a new government takes charge it could announce "fresh policies to boost" Asia's third-largest economy.
Growth in January's output was revised upward to 0.9 percent from 0.1 percent.