Industrial production grew a meagre 0.7% in September mainly due to poor show by manufacturing and mining sectors coupled with decline capital goods output. The factory output for the April-September period of the current financial year declined by 0.1% compared to 4% growth in the year-ago period, as per the data released by Central Statistics Office today.
Factory output, as measured in terms of the Index of Industrial Production (IIP), had grown by 3.7% in September last year.
The manufacturing sector, which constitutes over 75% of the IIP index, recorded a low growth of 0.9% in September compared to 2.7% growth a year ago. In terms of industries, 12 out of 22 groups in the manufacturing sector showed positive growth in September. The capital goods output registered a steep decline of 21.6% in the month against a growth rate of 10.1% in last year.