The Index of Industrial Production (IIP) shrank 0.8% in April compared with a growth of 0.3% the previous month, driven by a 3.1% contraction in manufacturing activity. The Index of Industrial Production (IIP) shrank in April on the back of a 3.1% contraction in manufacturing activityThe Index of industrial production (IIP) shrank 0.8% in April compared with 0.1% growth in the previous month driven by contraction in manufacturing activity by 3.1% in April. However, a fall in production of fast-moving consumer goods, or consumer non-durables, for the tenth time in the last 13 months by 9.7% squeezed consumer goods, which shrank by 1.2%. “The growth in consumer goods segment is slated to strengthen in the second half of the year with expectations of increased urban and rural demand. On the other hand, industries such as furniture (28%); radio, TV, communication equipment (18.8%); and office, accounting and computing machinery (18.7%) led the growing segments in IIP.

Source: Mint June 10, 2016 12:22 UTC