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Deep in the red: India's Sep industrial output shrinks 4.3% (Lead)

Monday - November 11, 2019 6:32 pm , Category : BUSINESS
New Delhi, Nov 11 (IANS) Contraction in manufacturing along with mining activity and subdued demand environment plunged India's September 2019 factory output deep in the red.
The Index of Industrial Production (IIP) declined (-) 4.3 per cent in September from (-)1.40 per cent in August 2019.
On a year-on-year basis, the growth rate of factory output during the month under review was lower than the 4.6 per cent during September 2018.
"The Quick Estimates of IIP with base 2011-12 for the month of September 2019 stands at 123.3, which is 4.3 per cent lower as compared to the level in the month of September 2018," the Ministry of Statistics & Programme Implementation said.
"The cumulative growth for the period April-September 2019 over the corresponding period of the previous year stands at 1.3 per cent."
As per the data, the output rate of the manufacturing sector contracted by (-) 3.9
per cent in September from a YoY rise of 4.8 per cent.
Similarly, other notable sectors such as mining and electricity saw a decline in production.
According to the data, mining activity declined by 8.5 per cent from a flat growth of 0.1 per cent and the sub-index of electricity generation was lower by (-)2.6 per cent from 8.2 per cent.

--IANS rv/skp/