“MARCH MINING OUTPUT GROWTH SLOWS TO 1.2%, SIGNALLING IIP IMPACT.”
Why in the news?
“India’s mining output growth slows to 1.2% in March, hinting at potential slowdown in overall industrial production.”
source:TH
About the Slowing Growth Trends:
- India’s mining output growth dropped to a 19-month low of 1.2% in March, down from 8% in February.
- This decline, signalling potential slowdown in overall industrial output, is concerning ahead of the National Statistical Office’s release on May 10.
- Mining contributes 14.3% to the Index of Industrial Production (IIP), which saw a four-month high of 5.7% growth in February.
- The slowdown in core sectors, from 7.1% to 5.2% in March, suggests a probable deceleration in industrial output, with estimates ranging from 3.5% to 5%.
About Index of Industrial Production:
● Indicator of economic development measuring trends in industrial production. ● Shows relative change in physical production compared to previous year. ● Computed and published monthly by Central Statistical Organisation (CSO). ● Base year: 2011-12. |