India's Factory Output Dips After Signs Of Recovery
Posted By: Staff
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After an impressive 9.87 percent growth in October that triggered hopes of a recovery, India's factory output declined by 3.19 percent in the following month into the negative territory, due to a (-)4.4 percent drop in manufacturing activity.
As per data on index of industrial production (IIP) released by the Central Statistics Office, the cumulative growth of the country's factory output was also pulled down to 3.9 percent in the first eight months of the current fiscal year.
Between the other broader indices, electricity production was up marginally by 0.7 percent, while that for mining was at 2.3 percent.