Industrial output up 29.3% in May due to low base, drops 8% sequentially

In May last year, IIP had shrunk 33.4% due to imposition of a nationwide lockdown to contain the spread of the Covid-19

India’s industrial production grew 29.3 per cent in May as compared to the same period a year ago, as the impact of a low base continued for yet another month.

In May last year, factory output, measured by Index of Industrial Production (IIP), contracted 33.4 per cent. This is because factories remained shut due to the imposition of the nationwide lockdown last year.

“The indices are to be interpreted considering the unusual circumstances on account of the Covid-19 pandemic since March 2020,” the ministry of statistics and programme implementation said in a statement on Monday.

On a sequential basis, IIP fell nearly 8