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Financial News: India Industrial Production Continues To Fall

India Industrial Production Continues To Fall

09/11/2020 - 11:37:00 (RTTNews)

(RTTNews) - India's industrial production continued to decrease sharply in July, driven by a steep drop in manufacturing, despite businesses re-opening gradually following a lockdown to battle the coronavirus. Industrial production dropped 10.4 percent year-on-year in July, data from the statistics ministry showed Friday, which was smaller than the 11.5 percent decline economists had forecast. In June, production shrunk a revised 15.8 percent. Manufacturing output fell 11.1 percent year-on-year in July. Mining output decreased 13.0 percent and electricity production fell 2.5 percent.

In the April to July period, industrial production slumped 29.2 percent from a year ago.

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