Industrial production grows at 0.5 per cent, slowest since June 20172Photo© oneindia.com

Industrial production grows at 0.5 per cent, slowest since June 2017

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Factory output, which measures economic activity in India through the Index of Industrial Production (IIP) saw growth of a mere 0.5 per cent. This is significant as the growth rate is the slowest since June 2017, according to government data.

Index of Industrial Production (IIP) with base 2011-12 for the month of November 2018 stands at 126.4, which is 0.5 per cent higher as compared to the level in the month of November 2017.

Industrial output growth dropped to a 17-month low of 0.5 per cent in November on account of contraction in the manufacturing sector, particularly consumer and capital goods.