Factory Output Loses Steam In July

New Delhi: India’s industrial production output decelerated to 4.8 per cent year-on-year in July 2024, mainly due to poor performance of the manufacturing and mining sectors, as per official data released on Thursday.

The factory output growth, measured in terms of the Index of Industrial Production (IIP), was revised to 4.7 per cent in June from provisional estimates of 4.2 per cent released last month. The IIP for July 2024 was 4.8 per cent, as per the data. During the April-July period this fiscal, the IIP growth was 5.2 per cent against 5.1 per cent in the same period of the preceding fiscal. The IIP grew by 6.2 per cent in July 2023, according to a statement by the Ministry of Statistics & Programme Implementation.

As per the data, the mining output growth decelerated to 3.7 per cent in July from 10.7 per cent expansion in the year-ago month. The manufacturing sector’s growth declined to 4.6 per cent in July from 5.3 per cent a year ago. The power generation increased by 7.9 per cent in July against a growth of 8 per cent in the same month of the last year.