India's September industrial output shrinks 4.3%

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Contraction in manufacturing and mining activity plunged India's September factory output deep in the red. The Index of Industrial Production (IIP) declined (-) 4.3 per cent in September from (-)1.40 per cent in August 2019.

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    India's September industrial output shrinks 4.3%

    Contraction in manufacturing and mining activity plunged India's September factory output deep in the red. The Index of Industrial Production (IIP) declined (-) 4.3 per cent in September from (-)1.40 per cent in August 2019.

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    India's industrial production contracted by 0.1 per cent in March this year, the lowest in 21 months, mainly due to manufacturing sector slow down, official data showed Friday. Factory output, as measured in terms of the Index of Industrial Production (IIP), had grown by 5.3 per cent in March 2018, according to data released by the Central Statistics Office (CSO).




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    The core sector for the month of September contracted massively by 5.2 per cent from the 0.5 per cent contraction seen in August. The index was dragged down by coal mining which came in at -20.5 per cent.The figures for the same month last year stood at 4.3 per cent. The cumulative growth during the period of April-September 2019-20 was 1.3 per cent.

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