Factory output shrinks again in March

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Factory output shrinks again in March
Weighed down by slowdown blues in mining and manufacturing sector, the factory output contracted for the fifth time in six months in March by 0.5 per cent against a decrease of 1.7 per cent in the previous month.

"The Index of Industrial Production (IIP) for the month of March 2014 stands at 193.2, which is 0.5 per cent lower as compared to the level in the month of March 2013," aaccording to official data released on Monday.

Meanwhile, the cumulative growth for the period April-March 2013-14 declined by 0.1 per cent over the corresponding period of the previous year.

Among the core sector, output of mining and manufacturing sectors dropped by 0.4 per cent and 1.2 per cent, respectively. However, electricity sector continued its good performance and output increased by 5.4 per cent in March 2014 as compared to same period a year ago.

The cumulative growth in the three sectors during April-March 2013-14 over the corresponding period of 2012-13 has been (-) 0.8 per cent, (-) 0.8 per cent and 6.1 per cent respectively.

Read more about: iip
Story first published: Tuesday, May 13, 2014, 9:30 [IST]
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