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Industrial production grows at 6.6% in July; electronics, pharma shine

Economists suggest that current rates sustaining over the next 2-3 quarters, will lead to the 5-6 per cent mark for the year, which will be a significant recovery

IIP, Services, Manufacturing
Manufacturing production rose by 7% in July, against 6.65% rise in June, 2018 | Photo: iStock

Despite remaining elevated, industrial output growth moderated slightly in July to 6.6 per cent as growth in the capital goods segment cooled suddenly after performing well for months.   In the previous month of June, the Index of Industrial Production (IIP) grew at a slightly higher 6.8 per cent, up from 3.92 per cent in May. The stable pace of growth can be attributed mainly to the manufacturing segment, constituting the bulk of the index at 77.6 per cent, growing by 7 per cent, marginally up from the 6.9 per cent in June.   Among the 23 sub-sectors within manufacturing, ...