Industrial production slows to 3-month low of 2.2% as manufacturing stays tepid

  |   India News

The IIP (Index of Industrial Production), which is the measure of factory output, grew at a sluggish pace of 2.2 per cent for the month of October, as compared to 4.2 per cent a year ago, government data showed on Tuesday.

The rate of growth is slower than that of 3.8 per cent recorded for the month of September. Factory output has now been slowing for a while now, as the IIP stood at 4.5 per cent in August.

A Reuters poll of economists had predicted the growth at 3 per cent.

According to the data, IIP grew cumulatively at 2.5 per cent for the period of April- October this fiscal, compared to 5.5 per cent in the corresponding period in the last one.

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