Factory output numbers lowest in 4 years, manufacturing-mining sector in bad shape

New Delhi, Aug 12 (KNN) The Index of Industrial Production (IIP) data released by the government reveals that the factory output in the country registered lowest figures in the previous four years.

According to the data, the output registered a negative figure of 0.1 per cent in June, this is the lowest growth recorded since June 2013, when the IIP reduced by 1 per cent earlier.

In June 2016, the IIP registered a positive 8 per cent.

The Data further reveals that the factory output grew at a slow pace of 2 per cent in the first quarter of the present fiscal. The figure for the same period in the last fiscal was around 7.1 per cent.

Manufacturing Sector activity already showed signs of slowed growth with a contraction of 0.4 per cent in June just before the roll out of the Goods and Services Tax in the country (GST).  Besides manufacturing, mining as well as electricity registered a slow growth as per the IIP data.

With regard to the industries, fifteen out of twenty three industrial categories recorded negative growth in June 2017, as compared to the figures from the corresponding month of the previous year. (KNN/ DA)