IIP Contracts By 3.8 Percent

by GoNews Desk 1 month ago Views 1580
IIP Contracts By 3.8 Percent
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India's Index of Industrial Production (IIP) contracted by 3.8 percent in October on the back of poor performance by power, mining and manufacturing sectors, showed data released by Ministry of Statistics and Programme Implementation on Thursday.

The IIP in October 2019 stands at 127.7 and is the third consecutive contraction. In September, it contracted 4.3 percent.

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Manufacturing output contracted 2.1 percent in October compared with a contraction of 3.9 percent in September.

Mining output contracted 8 percent as against a contraction of 8.5 percent last month.

Electricity generation contracted 12.2 percent versus a contraction of 2.6 percent in September. 

Whereas Basic Metal contracted 9.4 percent as against a fall of 9.2 percent last month.