Industrial Growth Drops to 17-Month Low of 0.5% in November 2018
Picture for representational purpose (Photo Credit: PTI)

Mumbai, January 11: Index of Industrial Production (IIP) with base 2011-12 for November 2018 stands at 126.4, which is 0.5 percent higher as compared to the level in the month of November 2017. The industrial production in November grew at just 0.5 percent as compared to 8.1 percent in October, data released by the statistics office showed. The index dropped to a 17-month low of 0.5 per cent in November on account of contraction in the manufacturing sector. The previous low was in June 2017, when IIP growth contracted by 0.3 per cent. India's GDP Growth Rate Peaked to 10.8% Under Manmohan Singh's Tenure in 2006-07, Shows Revised Data.

There is also a dip in the electricity output 5.1 percent in November from 10.8 percent in October. During the April-November period, industrial output grew 5 per cent as compared to 3.2 per cent in the same period of the previous fiscal. The manufacturing sector, which constitutes 77.63 per cent of the index, recorded a contraction of 0.4 per cent in November as against a growth of 10.4 per cent a year ago. The mining sector posted 2.7 per cent growth during the month as against 1.4 per cent in November 2017. GDP Slumps to 7.1% During July-September 2018 Vs 8.2% in First Quarter.

The IIP is an index for India which details out the growth of various sectors in an economy such as mineral mining, electricity and manufacturing. All India IIP is a composite indicator that measures the short-term changes in the volume of production of a basket of industrial products during a given period with respect to that in a chosen base period. The central statistical organisation (CSO) is responsible for publishing the report.