India’s Industrial Production Shrinks by 1.1% in August 2019, Dragged Down by Manufacturing
Picture for representational purpose (Photo Credit: PTI)

Delhi, October 11: The factory output or Industrial production, measured by the estimate of IIP (Index of Industrial Production) shrank by 1.1 percent in August 2019 as compared to the level in the month of August 2018, according to data released by Ministry of Statistics & Programme Implementation. Industrial output is the closest approximation for measuring economic activity in the nation's business landscape. Nirmala Sitharaman Takes Measures to Pace Up Economic Growth, Says 'Inflation Under Control and Clear Sign of Revival of Industrial Production'.

"Fifteen out of 23 industry groups in the manufacturing sector have shown negative growth during the month of August 2019 as compared to the corresponding month of the previous year," a press release by Ministry of Statistics & Programme Implementation said. August Retail Inflation Touches 10-Month High of 3.21%, July IIP Growth at 4.3%.

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The manufacturing sector, which contributes over 77 per cent to the IIP, showed a decline of 1.2 per cent in output during August 2019 as against a growth of 5.2 per cent in the same month of last year.

Electricity generation declined by 0.9 per cent as against an expansion of 7.6 per cent in the year-ago month while the growth in the mining sector was flat at 0.1 per cent. The overall IIP growth during April-August period was 2.4 per cent, down from 5.3 per cent in the corresponding period of the last fiscal.