Industrial production growth rate dips to 0.1 per cent in July, as against 3.7 per cent in the same month last year. The slowdown is attributed to uncertainty in the global economy which affected exports and the key infrastructure sector grew at its slowest pace in six months.

Minister of State for Statistics and Programme Implementation Srikant Jena today announced the release of the monthly Quick Estimates of Index of Industrial Production ,IIP for the month of July 2012 . An official release says that the index is a composite indicator that measures the short term changes in the volume of industrial production. According to the index, The IIP for the month of July this year recorded for the Mining at 123.2 , a decline of 0.7 percent as compared to July 2011. For the Manufacturing sector, it was declined by 0.2 per cent and recorded at 177.1. As far as Electricity sector is concerned, it was recorded at 156.3. with a growth rate of 5.5 percent as compared to July last year.The statement issued by the Minister says that as per use-based classification there have been negative growths in capital goods which is declined by five per cent. Intermediate goods growth rate declined by 1.1 per cent . However positive growths have been achieved in basic goods which grew at 1. 5 per cent rate. The consumer durables growth rate was recorded 1.4 percent growth rate while consumer non-durables growth rate was 0.1 per cent.
AIR correspondent reports that the country's eight key infrastructure industries, which account for almost 40 percent of factory output, expanded just 1.8 percent in July, the slowest pace since January this year.