Index of Industrial Production: IIP growth slips to 4.3% in December, down from 7.3% in November, shows Govt data
IIP growth data: While the government pointed out that the MSME sector is driving the growth, economists believe that the slowing of the growth pace is due to external headwinds
IIP growth data: India's factory output based on the Index of Industrial Production (IIP) grew by 4.3 per cent year-on-year in the month of December, Ministry of Statistics and Programme Implementation data showed on Friday. Although, the growth rate has eased as compared to November, when it stood at 7.3 per cent.
“IIP growth eased to 4.3 per cent in Dec’22 from 7.3 per cent in Nov’22, led by a sharp moderation in manufacturing. Within manufacturing, a broad-based slowdown was visible led by computers, wearing apparel and tobacco,” said Aditi Gupta, economist, Bank of Baroda.
The data released by the National Statistical Office (NSO) showed that the manufacturing sector's output grew by 2.6 per cent in December 2022.
Mining output rose by 9.8 per cent and power generation increased by 10.4 per cent during the month under review.
April-Dec is 5.4 per cent.
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