IIP dips 1.2% in Feb as manufacturing declines

Industrial output slipped to a 4-month low, contracting 1.2 per cent in February, mainly on account on decline in the manufacturing sector and lower offtake of capital as well as consumer goods

The decline in Index of Industrial Production in February is mainly on account of 2% contraction in manufacturing sector. File picture

New Delhi: Industrial output slipped to a 4-month low, contracting 1.2 per cent in February, mainly on account on decline in the manufacturing sector and lower offtake of capital as well as consumer goods.

The Index of Industrial Production (IIP) had registered a growth of 1.99 per cent in February last year. For the 11 month period to February of the last financial year, IIP growth was nearly flat at 0.4 per cent as against 2.6 per cent a year ago. The decline in the IIP in February is mainly on account of 2 per cent contraction in manufacturing sector, which constitutes over 75 per cent of the index.

Retail inflation rises
Retail inflation jumped to a 5-month high of 3.81 per cent in March on costlier protein items, edible oils and non-food products like fuel and light. Inflation based on Consumer Price Index (CPI) was at 3.65 per cent in February.

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