April IIP growth slows to 3.1%

IIP growth was a revised 3.8% in March

Industrial production growth slipped to 3.1% in April due to poor show by manufacturing, mining and power sectors coupled with lower offtake of capital goods and consumer durables.

The factory output measured in terms of the index of industrial production (IIP) had expanded by 6.5% in April last year, the data released by the Central Statistics Office (CSO) today showed.

The CSO also revised upwards the IIP growth figure for March to 3.75% from provisional estimate of 2.7% released last month.

According to the CSO data, manufacturing sector, which constitutes 77.63% of the index, grew at 2.6% in April compared