Led by negative growth of 23% in the automobile sector, Index of Industrial Production (IIP), a measurement of factory output, has slowed down to 1.1% in August as compared to the same month last year. The cumulative growth for the period April-August 2019 over the corresponding period of the previous year stands at 2.4%, according to data released by the Ministry of Statistics & Programme Implementation. IThe Index of Industrial Production (IIP) had expanded by 4.8% in August 2018. The Indices of Industrial Production for the Mining, Manufacturing and Electricity sectors for the month of August 2019 are at 0.1%, -1.2% and -0.9% as compared to August 2018. The industry group ‘Manufacture of motor vehicles, trailers and semi-trailers’ has shown the highest negative growth of -23.1%, followed by -21.7% in ‘Manufacture of machinery and equipment n.e.c.’ and -18.0% in 'other manufacturing’.

Source: dna October 11, 2019 12:56 UTC