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August IIP slows to 4.1%

This article was posted on Oct 12, 2011 and is filed under Market News

The industrial growth of the country slowed to 4.1% in August on account of the poor performance of the manufacturing sector and a decline in mining output, indicating an economic slowdown.

Growth in factory output, as measured in terms of the Index of Industrial Production (IIP), stood at 4.5% in August last year.

During the April-August period this fiscal, IIP growth stood at 5.6%, as against 8.7% in the same period last year.

Meanwhile, the IIP growth figure for July this year has been revised upward to 3.8% from the provisional estimate of 3.3%.

The output of the manufacturing sector, which constitutes over 75% of the index, grew by only 4.5% in August, compared to 4.7% expansion in the same month last year, according to official data released today.

Mining output declined by 3.4% in August this year, as against a growth of 5.9% in the same month last year.

Growth in capital goods output slowed to 3.9% in August, in comparison to a growth of 4.7% in the same month of 2010.

Growth in production of intermediate goods slowed to 1.3% during the month under review, as against a growth of 5.8% in August, 2010.

Consumer durables output grew by 4.6% in August, compared to a growth of 8.1% in the corresponding month last year. For more visit: Business Standard

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