Industrial output growth drops to 4.3% in July

India's industrial production growth slowed to 4.3 per cent in July, dragged mainly by manufacturing sector's poor show, according to government data released on Thursday.

Factory output, as measured by the Index of Industrial Production (IIP), had expanded 6.5 per cent in July 2018.

The industrial output growth was recorded at 1.2 per cent in June and 4.6 per cent in May.

According to data released by the Ministry of Statistics and Programme Implementation, industrial output grew at 3.3 per cent in April-July period, down from 5.4 per cent growth in the same period a year ago.

The IIP data showed a significant slowdown in the manufacturing sector, which grew at 4.2 per cent in July 2019 as compared to 7 per cent a year ago.

Capital goods segment, which is a barometer of investment, saw a contraction of 7.1 per cent in July compared to 2.3 per cent rise a year ago.

Mining growth was 4.9 per cent in July as compared to 3.4 per cent in the same month last fiscal.