Industrial output sees steepest fall in 8 years, shrinks 4.3% in September

September saw the slowdown in the manufacturing sector - which accounts for 78 per cent of the index

Industrial output contracted by 4.3 per cent for the second-straight month in September, nosediving to an 8-year low. Spurred by a major loss in manufacturing output and a deepening slowdown in capital goods production, the latest contraction was much higher than the 1.4 per cent fall in August. The Index of Industrial Production (IIP) fell by the highest margin since October 2011, data released on Monday showed. 

Economists said the latest data is worse than what was anticipated. “Cumulative growth in 2019-20 so far at 1.3 per cent as against 5.2 per cent in 2018-19 is very low and indicates