Industrial Output Growth Slows To 4.4% In August

It fell by 1.2 per cent in August from 5.2 per cent in the previous month. The cumulative growth rate for the period April-August is 5.6 per cent, 7 per cent lower than the corresponding period last year. This is based on the quick estimates released by the industry ministry.

The 24 industries account for a total weight of 50.37 per cent in the IIP. The revised growth rates for May, June and July 1996 are 5.9 per cent, 4.2 per cent and 5.2 per cent respectively.

Of these, the 18 industries showed a growth of 8.5 per cent in August. The six infrastructure industries contributed to bring down the overall growth rate with a dismal rise of 2.2 per cent. The decline in the cumulative growth rate can be attributed to the fall in crude petroleum, fertilisers, jute manufactures and aluminum.