India’s industrial output dips to 18-month low
By IANSWednesday, January 12, 2011
NEW DELHI - India’s industrial output fell to an 18-month low in November with production growing at a slow 2.7 percent, according to official data released Wednesday.
Slowing industrial production will put the government and the Reserve Bank of India in a fix when it comes to tackling inflation as hiking key interest rates was one of the foremost measures employed by the central bank last year.
The index of industrial production (IIP) fell to 2.7 percent in November, the slowest growth since May 2009.
The IIP for October was also revised upwards from the 10.8 percent to 11.3 percent.
The sharpest fall came in consumer non-durables, which showed a negative output of 6 percent compared to a growth of 36 percent in the like month in 2010.
Manufacturing, the biggest constituent in the IIP, grew at 2.3 percent against 12.3 percent in November of last year.
