India?s industrial output growth rebounded in October from September?s 16-month low, showed forecasts of 23 economistsahead of the data release on Friday. The median of the forecasts for year-on-year growth in October was 8.8% compared with provisional 4.4% in the month earlier. A year earlier, the Index of Industrial Production had expanded 10.1%. Economists expect India?s factory output to rise to a three-month high in October. Signs of higher growth in October came from upticks in the purchasing managers? index and growth in infrastructure industries, economists said.

KEY POINTS OF SURVEY OF ECONOMISTS

* October IIP yr-on-yr growth projections median: 8.8%; average: 8.7%.

* Economists of 23 financial services firms, research agencies polled.

* Projections range for IIP: 3.8-13.0% (see table at bottom of story).

* In Sep, IIP was provisionally up 4.4%; Oct 2009 it was up 10.1%.

* In October, 6 ?core? sector industries rose 7.0% versus 3.9% year ago.

* Core or infrastructure industries together have 27% weightage in IIP.

ECONOMISTS? COMMENTS AND OCTOBER IIP GROWTH FORECASTS

MATT ROBINSON, senior economist, Moody?s Economy.com. (Forecast: 6.5%)

?Industrial production growth plumbed a 16-month low in September, as previous interest rate increases subdued demand for capital and consumer goods and dampened industrial production. However, the purchasing managers? index and HSBC Markit business activity index both rose in October, suggesting the manufacturing and service sectors expanded during the month. This should see industrial production rebound in October results.?

LEIF ESKESEN, chief India economist, HSBC Global Research. (Forecast: 7.5%)

?Industrial activity may have been watered down by un-seasonal rains in September. However, drier conditions in October means construction and logistics are no longer disrupted. Also, the October HSBC manufacturing PMI and the infrastructure index ticked up, suggesting a faster pace of growth.?

MADAN SABNAVIS, chief economist, CARE Ratings. (Forecast: 13%)

?Industrial activity may have been watered down by un-seasonal rains in September. However, drier conditions in October means construction and logistics are no longer disrupted. Also, the October HSBC manufacturing PMI and the infrastructure index ticked up, suggesting a faster pace of growth.?

RUPA REGE NITSURE, chief economist, Bank of Baroda. (Forecast: 9.2%)

?My projection of IIP growth is 9.2% for October. The growth looks high primarily on account of a statistical base effect. Sequentially also there is a definite improvement in industrial production over September on account of a decent performance of ?core? industries, exports and consumer durables. The festive season has been a major trigger for a turnaround in consumption in the month of October.?