India’s factory output declines again in December

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New Delhi, Feb 12 (IANS) India’s factory output declined again in December by (-)1.3 percent but was somewhat better than the (-)3.42 percent dip registered in the month before, official data showed on Friday. There was a growth of 3.6 percent in December 2014.

As per data on index of industrial production (IIP) released by the Central Statistics Office, the cumulative growth of the country’s factory output logged a 3.1 percent rise in the first nine months of the current fiscal year.

Cumulative growth during the corresponding period of last fiscal stood at 2.6 percent.

December IIP was dragged lower by a (-)2.4 percent drop in manufacturing activity. Between the other broader indices, electricity production rose by 3.2 percent, while that for mining was up by 2.9 percent.

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