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HindustanTimes Thu,31 Jul 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.

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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.


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