Industrial growth slows to 17-month low of 0.5% in Nov

Factory output growth slipped to a 17-month low of 0.5 per cent in November, primarily due to a high base effect along with a moderation in growth in capital goods, consumer durables and a contraction in manufacturing growth, data released by Central Statistics Office (CSO) on Friday showed. The previous low was in June 2017, when factory output growth had contracted by 0.3 per cent, a month ahead of the rollout of the goods and services tax (GST) regime. The growth in industrial production in October was revised upwards to 8.4 per cent from 8.1 per cent, the data showed. In absolute terms, the Index of Industrial Production (IIP) stood at 126.4 in November 2018 as against 125.8 in November 2017 and 132.8 in October 2018.

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