Industrial production loses steam, growth at 3-month low of 4.3 % in Aug

Manufacturing -- the largest segment in IIP -- moderated to 4.6%, down from the 6.9% rise in July

Industrial output growth faltered in August, dipping to a 3-month low of 4.3 per cent as manufacturing growth slowed down and mining activities contracted.

In July, the Index of Industrial Production (IIP) had moderated slightly to 6.6 per cent, down from the 6.8 per cent in June. The cooling of growth can be attributed mainly to the manufacturing segment, constituting the bulk of the index at 77.6 per cent, growing by only 4.6 per cent, significantly lower than the 6.9 per cent rise in July.

The growth in August disappointed economists. “Clearly, the IIP growth is not showing the buoyancy that the