Advertisement

HindustanTimes Fri,18 Apr 2014

Industrial production falls 1.6% from previous year

AP  Mumbai, July 12, 2013
First Published: 18:35 IST(12/7/2013) | Last Updated: 03:53 IST(13/7/2013)

India's Industrial production for the month of May fell by 1.6% from the previous year, the latest sign that the country's economy is continuing to struggle.

Advertisement

Weak mining and manufacturing performance dragged down the industrial output for May.

The April numbers from the Central Statistics Office showed a growth of 2.3%.

Mining production was down 5.7% and manufacturing fell by 2% over the previous year.

The electricity sector's output grew by 6.2%.

The country's once-bright economic outlook has been marred in recent months by stalling growth rates, high inflation and deficits in both - the current accounts and the government budget.

Gross domestic product growth for the quarter ending in March was just 4.8%, down from the 8-9% level of just a few years ago.

Advertisement
more from Business

Rajat Gupta to surrender on June 17 in insider trading case

Gupta was convicted in June 2012 on securities fraud and conspiracy charges for having fed tips, from Goldman board meetings in the second half of 2008, to longtime friend Raj Rajaratnam, founder of the Galleon Group hedge fund firm.
markets
Advertisement
Most Popular
Advertisement
Copyright © 2014 HT Media Limited. All Rights Reserved