India's Industrial output down 0.6 percent
India's industrial output contracted for the third straight month in December by 0.6 percent due to a decline in manufacturing production, government data showed Wednesday.
IIP had declined by 2.1 percent in November.
According to data released by the Central Statistics Office (CSO), manufacturing production slumped by 1.6 percent from a decline of 0.8 percent in the corresponding period of 2012.
During the month under review, mining sector grew at a sluggish 0.4 percent from a decline of 3.1 percent in output during December 2013. Electricity output increased by 7.5 percent from a growth of 5.2 percent in the corresponding month of 2012.
Segment-wise growth was witnessed in sugar machinery (78.8 percent), ayurvedic medicaments (62.7 percent), steel structures (38.5 percent), cable, rubber insulated' (59.8 percent), air conditioners (47.2 percent), leather garments (27.4 percent), Stainless steel (25 percent) and transformers (26.7 percent).
Segment-wise, high negative growth was reported in computers (-25.9 percent), aluminium conductor(-55.9 percent), earth moving machinery (38.2 percent), commercial vehicles (25.3 percent), gems and jewellery (-33.3 percent) and telephone instruments including mobile phones and accessories(-38.9 percent).
(Posted on 12-02-2014)