Industrial output shrinks by 1.1% in August, shows data

Industrial output witnessed a slump of 1.1% this August due to poor performance by the manufacturing, power generation and mining sectors, showed official data released on Friday (October 11).

The Index of Industrial Production (IIP) had expanded by 4.8% in August 2018, reported news agency PTI.

source: tradingeconomics.com

The manufacturing sector showed a slump of 1.2% in output during August as against a growth of 5.2% in the year ago month. The sector contributes over 77% to the IIP, the report said.

Electricity generation also declined by 0.9% as against an expansion of 7.6% in the same month last year while the growth in the mining sector was flat at 0.1%.

The overall IIP growth during April-August was 2.4%, down from 5.3% in the corresponding period of the last fiscal, it said.

(With inputs from agencies)