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Business News

Jul 13, 2019
8:53AM

Mining, manufacturing pull down IIP growth to 3.1 pc in May

AIR PIC
Industrial output growth slipped to 3.1 per cent in May mainly on account of subdued performance of mining and manufacturing sectors.

According to government data, the Index of Industrial Production (IIP) had expanded by 3.8 per cent in May last year. The index grew at 4.3 per cent in April and 0.4 per cent in March this year.

The expansion in the mining sector was merely 3.2 per cent in May, as compared to 5.8 per cent in the year-ago month. The growth in the manufacturing sector was also subdued at 2.5 per cent in May, compared to 3.6 per cent in the corresponding month of the last fiscal.

However, the power generation grew at 7.4 per cent in May, against 4.2 per cent in same month last year.

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