Industrial output growth contracts by 0.1% in Nov
New Delhi: Dashing hopes of a rebound, the industrial output contracted to a four-month low of 0.1 per cent in November due to poor performance of manufacturing and mining sectors and decline in the production of capital goods.
Industrial output, as measured by the Index of Industrial Production (IIP), dipped from 8.3 per cent in October. The decline may prompt the Reserve Bank to consider rate cut in its quarterly review on January 29 to boost growth.
The industrial output had grown 6 per cent in November 2011. In July 2012, it had showed a contraction of 0.1 per cent.
Factory output growth was one per cent during April-November this fiscal from 3.8 per cent in the same period in 2011-12, according to official data released here today.
Meanwhile, the growth in industrial production during October last year was revised upward to 8.3 per cent from the earlier provisional estimates of 8.2 per cent released last month — highest in the previous 16-month.
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