Industrial production grows at 3.1 pc in May

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Business News

Jul 12, 2019

7:43PM

Industrial production grows at 3.1 pc in May

AIR

Industrial production grew at 3.1 per cent in May, mainly on account of improvement in power generation, according to official data released today.

According to Ministry of Statistics and Programme Implementation data, Index of Industrial Production (IIP) had expanded by 3.8 per cent in corresponding period last year.

The expansion in power generation sector stood at 7.4 per cent compared to 4.2 per cent in the year-ago month. Mining growth was at 3.2 per cent in May as against 5.8 per cent in the corresponding month of the last fiscal.

However, there was a slowdown in the manufacturing sector, which grew at 2.5 per cent in May compared to 3.6 per cent a year ago.