Wednesday, 10 August, 2022
HomeEconomyIndustrial production declines by 8% in August

Industrial production declines by 8% in August

According to IIP data released today, manufacturing sector production registered a decline of 8.6%, while the output of mining & power segments fell 9.8% & 1.8%, respectively.

Text Size:

New Delhi: Industrial production declined by 8 per cent in August, mainly due to lower output of manufacturing, mining and power generation sectors, official data showed on Monday.

According to the Index of Industrial Production (IIP) data, manufacturing sector production registered a decline of 8.6 per cent, while the output of mining and power segments fell 9.8 per cent and 1.8 per cent, respectively.

The IIP had contracted by 1.4 per cent in August 2019.

” It may not be appropriate to compare the IIP in the post pandemic months with the IIP for months preceding the COVID 19 pandemic,” the Ministry of Statistics and Programme Implementation said in a statement.

“With the gradual relaxation of restrictions, there has been a relative improvement in the economic activities by varying degrees as well as in data reporting,” it added.


Also read: Covid fear, high taxes push India’s petrol consumption to overtake diesel


 

Subscribe to our channels on YouTube & Telegram

Support Our Journalism

India needs fair, non-hyphenated and questioning journalism, packed with on-ground reporting. ThePrint – with exceptional reporters, columnists and editors – is doing just that.

Sustaining this needs support from wonderful readers like you.

Whether you live in India or overseas, you can take a paid subscription by clicking here.

Support Our Journalism

Most Popular

×