India's textiles sector sees better YoY performance in May over Apr

The improvement was broad-based across all the sub-sectors, including manufacturing (5.7 per cent in May from 5.2 per cent in April).

Fifteen sub-sectors, including textiles, saw an improvement in their YoY performance in May relative to April.

Industrial output recorded a rise of 3.2 per cent in May this year, ICRA said in a note.

The performance of most available high-frequency indicators weakened in June 2023, relative to May 2023; this is likely to restrict the YoY IIP growth to around 3-4 per cent in June this year. It is expected to average at 4-4.5 per cent in the first quarter (Q1) of fiscal 2023-24, similar to the 4.4 per cent growth seen in Q4 of the last fiscal.

ALCHEMPro News Desk (DS)