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Industrial activity contracts in July

Growth for the entire first quarter is an anaemic 2%

Ishan Bakshi  |  New Delhi 

sugar, mill, industry, company

Leading economic indicators suggest that economic growth continues to remain sluggish. Industrial activity contracted by 0.1 in June showed data released by the (CSO). Growth for the entire first quarter is an anaemic 2 per cent.

What is even more worrying is that capital goods, a proxy for investments, contracted by 6.8 per cent in June. It has now contracted by 3.9 per cent in the first quarter suggests that an investment revival is unlikely in the near term. 

With the Nikkei’s (PMI) for both manufacturing and services showing a contraction in activity in July, it suggests that industrial activity may further weaken in the next month.



First Published: Fri, August 11 2017. 19:27 IST