The weak demand of consumer goods also acted as a dampner
The manufacturing sector, which constitutes over 75 per cent of the index, contracted by 1.4 per cent in August, compared to 0.2 per cent decline in output a year ago. (PHoto: DC/File)
New Delhi: Contraction in manufacturing pushed the industrial production growth to lowest levels in last five-months in August at 0.4 per cent. To revive India’s manufacturing Prime Minister Narendra Modi had recently launched “Make in India” campaign to attract global manufacturers to set up plants in the country.
The weak demand of consumer goods also acted as a dampner with consumer durables growth shrinking by 15 per cent and consumer non-durables by one per cent in August.
The manufacturing sector, which constitutes over 75 per cent of the index, contracted by 1.4 per cent in August, compared to 0.2 per cent decline in output a year ago. For April-August, the sector grew at 1.8 per cent, compared to a 0.1 per cent contraction in the year-ago period. Capital goods which indicate the health of the manufacturing sector, also contracted by 11.3 per cent.
( Source : dc correspondent )
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