Of the high-frequency indicators of industry, growth in the manufacturing component of the index of industrial production
(IIP) slowed to 1.3percent in January.
"The quick estimates of Index of Industrial Production
(IIP) with base 2011-12 for the month of February 2019 stands at 127.5, which is 0.1 per cent higher as compared to the level in the month of February 2018," according to an official statement released by the Ministry of Statistics and Programme Implementation.
Factory output, measured in terms of the index of industrial production
( IIP), had declined by 3.4 per cent in November as well, according to data released by Central Statistics Office ( CSO) on Friday.
Meanwhile, industrial production, as measured by the Index of Industrial Production
(IIP), surged to 2.4 per cent in January from a contraction of 0.5 per cent (revised) in December 2012, while retail inflation (CPI) moved up for the fifth straight month to 10.91 per cent in February from 10.79 per cent in January.
Manufacturing output, which accounts for three-quarters of the Index of Industrial Production
, was chiefly to blame, falling 3.2 per cent from a year earlier in June, according to government figures.
Forecasters polled by Dow Jones Newswires had expected the index of industrial production
(IIP) to increase 1.0 percent in April, a modest turnaround after a shock contraction of 3.5 percent in March.
The overall index of industrial production
fell by 5.9% compared with the same period of the previous year in March 2011, having risen by 0.6% in the previous month.
On a quarterly basis, the index of industrial production
fell a seasonally adjusted 0.8 percent to 100.5 in the July-September period for the first drop in five quarters.
The related index of Industrial Production
rose 0.2% in October.
Excluding motor vehicles and parts, the index of industrial production
was at approximately the same level in August as it had been in May.