Industrial output drops by 1.8 percent in JuneAugust 9th, 2012 - 2:36 pm ICT by IANS
New Delhi, Aug 9 (IANS) India’s industrial output dropped by 1.8 percent in June due to a sharp contraction in manufacturing production, government data showed Thursday.
The factory output has contracted for the third time in the last four months putting pressure on the policy makers to take immediate steps to improve the situation.
During the April-June period, factory output measured in terms of the Index of Industrial Production (IIP) has contracted by 0.1 percent, according to data released by the Central Statistics Office.
Industrial output had contracted by 0.9 percent in April. However, it had registered a growth of 2.4 percent in May, raising hope for revival.
However, the June data showed that Indian economy remained under pressure and corrective measures were needed to revive industrial growth.
Manufacturing production dropped by 3.2 percent in June, while mining and electricity, the other two components of the IIP, registered positive growth.
Electricity output grew by 8.8 percent and mining production increased by 0.6 percent during the month under review.
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