Industrial Output Growth Slumps to 0.5% in November, Slowest Since 2017
November’s growth was much slower than an upwardly revised 8.4 percent year-on-year increase in October, the data showed. The factory output, determined by Index of Industrial Production (IIP), also fell way short of a forecast of 4.1 per cent in a poll of economists by news agency Reuters.
The indices for the mining, manufacturing and electricity sectors stand at 110.6, 127.2 and 147.2 respectively, with the corresponding growth rates of 2.7 percent, (-) 0.4 percent and 5.1 percent as compared to November 2017.
The cumulative growth in these three sectors during April-November 2018 over the corresponding period of 2017 was 3.7 percent, 5.0 percent and 6.6 percent respectively.