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Industrial output contracts
October 18 , 2024
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- India’s factory output, as measured by the Index of Industrial Production (IIP), contracted by 0.1 per cent in August for the first time after a gap of 21 months.
- This data was released by the National Statistical Office (NSO).
- The overall industrial output had grown by 4.7 per cent in July and 10.9 per cent in August 2023.
- Mining output has recorded a contraction of 4.3 per cent in August as against a growth of 3.8 per cent in July and 12.3 per cent in the year-ago period.
- Electricity output also posted a contraction of 3.7 per cent in August compared with 7.9 per cent in July and 15.3 per cent in the year-ago period.
- Sectorally, as per the IIP data, 11 out of the 23 sectors in the manufacturing registered contraction in August 2024.
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