Manufacturing sector decelerates India's March industrial output

Manufacturing sector decelerates India's March industrial output

Lower manufacturing production decelerated India's industrial output in March to 4.4 per cent from a rise of 7 per cent in February 2018, official data showed on Friday.

As per the data released by the Central Statistics Office (CSO), on a year-on-year (YoY) basis, the index value remained unchanged. IIP had edged higher by 4.4 per cent in May 2017.

Besides, the data showed that the sequential slowdown in factory output was mainly on account of lower production in the manufacturing sector.

According to IIP data, the sequential slowdown in factory output in the month of February was mainly on account of lower production in the mining sector.

Industry body Assocham's Secretary General DS Rawat had said, "Though a favourable base effect has helped the industrial growth numbers, other indicators like increase in demand for credit along with ability of the producers to raise prices of non-food items all point towards a confidence building macro picture."