India Industrial Production Contracts 0.8% In August

Industrial production in India declined 0.8 percent year-over-year in August, reversing a 2.2 percent rise in July, official data showed. Further, this was the first decrease since February 2021. Among three main sectors, mining output fell the most, by 3.9 percent, followed by a 0.7 percent contraction in manufacturing production. On the other hand, electricity production registered a positive growth of 1.4 percent. In the April to August period, the industrial production posted an expansion of 7.7 percent annually.

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