Industrial Production Contracts 1.1% In August | Read

Signs of economic slowdown became more pronounced after country's industrial production or factory output, measured by the estimate of Index of Industrial Production (IIP) registered its worst slump in more than six years in August. The IIP shrank by 1.1 per cent in August compared with an expansion of 4.3 per cent in July, according to data released by Ministry of Statistics & Programme Implementation. It was the worst performance since a 4.4 per cent contraction in November 2012. The Index of Industrial Production (IIP) had expanded by 4.8 per cent in August 2018.