Factory output at 3-mth low
Industrial output growth slips to 5% due to slowdown inmfg sector in April: Govt data
image for illustrative purpose
Industrial Production
- Mining, power segments performed well
- IIP growth was 5.4% in March, 5.6% in Feb
New Delhi: India’s industrial production growth slipped to 3-month low of five per cent in April 2024, mainly due to poor show by the manufacturing sector, though mining and power segments performed well, according to official data released on Wednesday.
Factory output growth, measured in terms of the Index of Industrial Production (IIP), was 5.4 per cent in March and 5.6 per cent in February 2024. The previous low of IIP was recorded at 4.2 per cent in January, 2024. For the fiscal 2023-24, IIP growth was 5.9 per cent against 5.2 per cent in the preceding financial year.
India’s Index of Industrial Production grew by 4.6 per cent in April 2023, according to a statement by the Ministry of Statistics & Programme Implementation. As per the latest data, the mining output growth accelerated to 6.7 per cent in April against a 5.1 per cent expansion in the year-ago month.
The manufacturing sector’s growth decelerated to 3.9 per cent in April compared to 5.5 per cent a year ago.
