A fall in manufacturing output and lower off take of consumer durables pulled down the rate of industrial growth to a 4-month low of 0.5 per cent in July this year, from 2.6 per cent in July last year. According to data released by the Central Statistics Office, manufacturing output contracted 1 percent in July, consumer goods output contracted 7.4 per cent, and consumer durables output contracted 20.9 per cent during the month.Production of capital goods, a barometer of demand, contracted 3.8 per cent in July. But the mining sector grew 2.1 per cent in July, and power generation increased by a healthy 11.7 per cent during the month. During the April to July period of the current fiscal, industrial production grew 3.3 per cent. And industrial growth for June has been revised upwards to 3.9 per cent, from the provisional estimate of 3.4 per cent.
News On AIR | September 12, 2014 8:23 PM
Industrial growth slows to 4-month low of 0.5%