Manufacturing slowed down industrial growth in January as headline number based on Index of Industrial Production (IIP) slipped to 3.8 per cent in January as against 4.2 per cent in December. At the 2-digit level, 13 industries had a production level higher than the pre-Covid period. grew in the range of 5.7-13.8 per cent y-o-y in February 2024. According to him, infrastructure and construction goods, the primary driver of IIP growth this year, moderated in January reflecting government capital expenditure. Uneven global growth could also restrict export recovery,” he said while adding that GDP growth estimated to slow to 6.8 per cent next fiscal from 7.6 per cent in this fiscal.

Source: The Hindu March 13, 2024 06:49 UTC