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IIP contracts to 0.6% in Dec

This article was posted on Feb 12, 2013 and is filed under Market News

The factory output in Decemeber 2012 stood at 2.7%

Indicating persistent sluggishness in the economy, industrial output contracted to 0.6% in December due to poor performance of manufacturing and mining sectors and decline in production of capital as well as consumer goods.

The industrial output, as measured by the Index of Industrial Production (IIP), had grown by 2.7% in December, 2011.

Industrial production growth stood at 0.7% during the April-December period of this fiscal, down from 3.7% in the same period of 2011-12, according to official data released here today.

The manufacturing sector, which constitutes over 75% of the index, registered a contraction of 0.7% in December in 2012, as against a growth of 2.8% in 2011.

The growth in output of the key sector remained low at 0.7% in April-December last year as against 4% growth in the same period of 2011.

The mining output in December last year contracted by 4% compared to a decline in production by 3.3% in the same month in 2011.

For more visit: Business Standard

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