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Industrial output contracted 1.1% in August

Industrial output contracted 1.1% in August

Industrial output declined by 1.1 per cent in August due to poor performance by manufacturing, power generation and mining sectors. The Index of Industrial Production (IIP) had expanded by 4.8 per cent in August 2018. The overall IIP growth during April-August period was 2.4 per cent, down from 5.3 per cent in the corresponding period of the last fiscal. This is the first instance of a contraction in the index of industrial production in over two years.

The index had grown 4.6% in July, and 4.8% in August 2018. The index declined 0.9% year-on-year for the electricity sector and 1.2% for the manufacturing sector. The mining sector showed a growth of 0.1%. In the financial year so far, the manufacturing sector index has grown 2.1%, the electricity sector 5.0% and the mining sector 2.8%. The manufacturing sector contributes 77% to the index.

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