World Economy

India Factory Output Slows

India Factory Output SlowsIndia Factory Output Slows

A retarded growth in manufacturing output slowed India’s overall industrial production expansion to 2.7% for May, against 4.1% in April, official data showed on Friday, IANS reported. As per the quick estimates of the Index of Industrial Production released by the Central Statistical Office, the growth in manufacturing output fell from 5.1% in April and 5.9% in May 2014 to 2.25 in the month under review. The manufacturing sector, which has the maximum weightage in the IIP, grew by 3.2% between April and May. The mining and electricity output expanded by 2.8% and 6% respectively.