October IIP contracts sharply; comes in at -1.9% versus 0.7% in September

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Published: December 9, 2016 5:49:25 PM

The Index of Industrial Production (IIP) for the month of October contracted sharply and was reported at (-)1.9% versus 0.7% in September.

aligarh-lock-industry-re-660The mining sector output growth was reported at (-)1.1% versus (-)3.1% in September. (Source: Reuters)

The Index of Industrial Production (IIP) for the month of October contracted sharply and was reported at (-)1.9% versus 0.7% in September. The General Index for the month of October 2016 stands at 178.0, which is 1.9% lower as compared to the level in the month of October 2015. The cumulative growth for the period April-October 2016 over the corresponding period of the previous year stands at (-)0.3%.

The mining sector output growth was reported at (-)1.1% versus (-)3.1% in September. The manufacturing sector output growth came in at (-)2.4% versus 0.9% in September. In terms of industries, twelve out of the twenty two industry groups in the manufacturing sector have shown negative growth during the month of October 2016 as compared to the corresponding month of the previous year.

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