Poor mining output drags IIP growth to 3-month low of 4.3pc in Aug
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Poor mining output drags IIP growth to 3-month low of 4.3pc in Aug

Industrial production growth slipped to a three-month low of 4.3 per cent in August mainly due to a sharp decline in the mining sector output and poor offtake of capital goods, according to the Central Statistics Office (CSO) data. The industrial production measured in terms of Index of Industrial Production (IIP) was 4.8 per cent in August last year, the CSO data released Friday showed. The mining sector production contracted by 0.4 per cent in August compared to a growth of 9.3 per cent in the year-ago month. Similarly the capital goods output growth decelerated to 5 per cent during the month from a 7.3 per cent expansion year ago. The IIP growth is the lowest since May when industrial production grew at 3.9 per cent. Industrial production expanded by 6.8 per cent in June and 6.5 per cent in July. The manufacturing sector output grew at 4.6 per cent in August compared to 3.8 per cent a year ago. Power generation grew at the rate of 7.6 per cent in the month as against 8.3 per cent .

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