Manufacturing brings down industrial growth

December 12th, 2008 - 4:53 pm ICT by IANS  

New Delhi, Dec 12 (IANS) India’s industrial growth fell 0.4 percent in October, compared to a growth of 12.2 percent in the corresponding month last year, according to data released by the Central Statistical Organisation (CSO).The index of industrial production (IIP), a measure of industrial activity in the economy, slipped into the negative zone mainly because of the manufacturing sector growth falling to 1.2 percent in October from 13.8 percent a year earlier.

Manufacturing constitutes about 80 percent of the total IIP index.

The capital goods sector grew at the rate of 3.1 percent, as against 20.9 percent a year ago, while the mining sector grew 2.8 percent as against 5.1 percent the previous year.

However, the power sector grew by 4.4 percent during the month as compared to the 4.2 percent growth last October.

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