The industrial activity of the country slipped in the month of August due to the rallying fuel prices and higher interest rates. India's Index of Industrial Production (IIP) slipped down by 4.3 percent during August 2018 to touch 127.4 as compared to the August 2017 level.
The data was released by the Ministry of Statistics and Programme Implementation stated that the manufacturing output rose by 4.6 percent as compared to 3.8 percent gain during the previous year.
The mining output declined by 0.4 percent, year-on-year basis as compared with 9.3 percent for the same month during last year. The electricity generation growth was recorded at 7.8 percent as against 8.3 percent during last year.
The manufacturing sector showed positive growth during August 2018, with sixteen out of twenty-three industries witnessed good growth. The furniture, wood and wood products and wearing apparel witnessed the highest growth.
• Manufacture of furniture grew at a whopping 29.2 percent.
• Manufacture of Wearing apparel grew by 18.9 percent.
The tobacco products, printing and reproduction of recorded media, computer, electronics and optical products witnessed a decline during August 2018.
The consumer durable output grew by 5.2 percent, infrastructure goods production grew by 7.8 percent and non-consumer durables inched up by 6.3 percent over the last year's figures.