India’s industrial production contracts 0.1 pct in August

NEW DELHI, Oct. 11 (Xinhua) — India’s factory activity growth, determined by the index of industrial production (IIP), witnessed a contraction of 0.1 percent in August, the government data showed Friday.
The IIP growth rate for July was 4.7 percent, according to data issued by the federal Ministry of Statistics and Program Implementation.
The growth rates of the mining, manufacturing and electricity sectors for August are (-)4.3 percent, 1.0 percent and (-)3.7 percent respectively, the ministry said, adding that the decline in the growth of the mining sector is likely due to heavy rainfall in August.
The data revealed that within the manufacturing sector, the top three positive contributors in August are the manufacture of basic metals (3.0 percent), manufacture of electrical equipment (17.7 percent) and manufacture of chemicals and chemical products (2.7 percent). ■