Industrial growth slowed down to 1.6 per cent in December, 2010, from 18 per cent in the same period a year ago. The slow down is due to the poor performance of the manufacturing sector. In November, 2010, the Index of Industrial Production (IIP) had expanded by a meagre 2.7 per cent. Finance Minister Pranab Mukherjee said, Industrial growth in December does not reflect correct picture of the economy.