Industrial output slackened marginally in August; down 0.1 percent, government figures released

New Delhi| India’s industrial production showed a slight decline in August. According to official data released on Friday, it decreased by 0.1 percent, mainly due to the poor performance of the mining and power generation sectors.

Factory output (factory output), measured in terms of the Index of Industrial Production (IIP), registered a growth of 10.9 percent in August 2023. “The IIP growth rate (-) for the month of August 2024 stood at 0.1 per cent, up from 4.7 per cent in July 2024”, the official statement released by the National Statistical Office (NSO) said.

Growth in mining, manufacturing and power generation in August 2024 stood at (-) 4.3 per cent, 01 per cent and (-) 3.7 per cent, respectively, according to official figures. NSO said rain (monsoon) is likely to be the main reason for the decline in mining sector growth in August 2024. In the April-August period of this financial year, the growth rate of IIP stood at 4.2 per cent, compared to 6.2 per cent in the same period a year ago.