Industrial output contracted to 0.6 per cent in December due to poor performance of manufacturing and mining sectors and decline in production of capital as well as consumer goods. The industrial output, as measured by the Index of Industrial Production, IIP had grown by 2.7 per cent in December, 2011. According to official data released in New Delhi today, industrial production growth stood at 0.7 per cent during April-December period of this fiscal, down from 3.7 per cent in the same period of 2011-12.
The manufacturing sector, which constitutes over 75 per cent of the index, registered a contraction of 0.7 per cent in December in 2012, as against a growth of 2.8 per cent in 2011.