IIP records 5-months low growth of 4.4% in March

Industrial output grew by 4.4 per cent in March, the slowest in five months, due to a fall in capital goods production and deceleration in mining activity, according to the official data.

Industrial growth measured by the Index of Industrial Production (IIP) in 2017-18 too decelerated to 4.3 per cent from 4.6 per cent in the previous fiscal.

The IIP grew by 4.4 per cent in March 2017, the same as in March 2018, the data released by the Central Statistics Office (CSO) showed.

The previous low at 1.8 per cent was recorded in October 2017.

Manufacturing sector, which constitutes over 77 per cent of the index, grew at 4.4 per cent in March as compared to 3.3 per cent in the same month a year ago.

The output of mining sector decelerated to 2.8 per cent during the month as compared to 10.1 per cent in March 2017.

Similarly, power generation too slowed down to 5.9 per cent as against 6.2 per cent in March 2017.

(Agencies)