Industrial output continued to contract with the index of industrial production (IIP) shrinking 0.6 per cent in December. The industrial production was seen contracting 1 per cent in December, according to an NDTV poll of analysts.
In November, the industrial production contracted 2.1 per cent. Falling auto sales continued to weigh on industrial production. Domestic passenger car sales fell 4.5 per cent in December.
In December, the mining sector grew 0.4 per cent, electricity production jumped 7.5 per cent while manufacturing contracted 1.6 per cent.
The manufacturing sector has been a drag on the economy. The manufacturing sector is seen contracting 0.2 per cent in the current fiscal, according to the government's estimates, pulling down the overall GDP growth to 4.9 per cent despite strong agricultural output.
Essential Business Intelligence, Sharp Market Insights, Practical Personal Finance Advice, Daily Fuel, Gold and Silver Prices and Latest Stories — On NDTV Profit.
