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IIP grows at 6.6 per cent in July as manufacturing, capital goods shine

Thursday, September 13, 2018

Industrial production grew at 6.6% in July on the back of good performance by the manufacturing sector and higher offtake of capital goods and consumer durables.

Factory output measured in terms of the Index of Industrial Production had expanded by just 1% in July last year, according to the data released by Central Statistics Office (CSO).  The IIP growth for June was also revised downwards to 6.8% from the provisional estimate of 7% released last month, the data showed.

The manufacturing sector recorded a 7% growth in July as against a contraction of 0.1% in the same month year ago.  The consumer durables sector recorded an impressive growth of 14.4% in July against a dip of 2.4% year ago. Capital goods production grew by 3% in July as against decline of 1.1% year ago.

Retail inflation cools to 11-month low of 3.69% in Aug
Retail inflation cooled to an 11-month low of 3.69% in August mainly due to a fall in prices of kitchen items, including fruits and vegetables, official data showed yesterday. The inflation based on Consumer Price Index (CPI) stood at 4.17% in July and 3.28% in August 2017. CPI inflation was at 3.58% in October 2017 and has remained above RBI's targeted rate of 4% since then.

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