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Financial News: India Industrial Production Falls For Fourth Month

India Industrial Production Falls For Fourth Month

08/11/2020 - 08:56:00 (RTTNews)

(RTTNews) - India's industrial production fell for a fourth consecutive month in June, albeit at a slower pace, as coronavirus containment measures such as social distancing disrupted activity in several economic sectors, data published by the National Statistical Office showed Tuesday.

Industrial production plunged 16.6 percent on a yearly basis in June, but slower than economists' forecast of 20 percent decline and May's 33.9 percent decrease. Manufacturing output contracted 17.1 percent and mining shrank 19.8 percent in June. Likewise, electricity output was down 10 percent.

During April to June period, industrial production decreased 35.9 percent from the same period last year.

Among major sectors, manufacturing registered the biggest fall of 40.7 percent in April to June period. Mining and electricity output declined 22.4 percent and 15.8 percent, respectively.

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