Industrial production slows to 2.4pc in May

New Delhi: Industrial production growth rate slowed to 2.4 per cent in May, 2012 due to contraction in capital goods and mining output, coupled with poor show by manufacturing sector, indicating persistent slowdown that may prompt Reserve Bank of India to cut lending interest rate. Growth in factory output, as measured by the Index of […]

New Delhi: Industrial production growth rate slowed to 2.4 per cent in May, 2012 due to contraction in capital goods and mining output, coupled with poor show by manufacturing sector, indicating persistent slowdown that may prompt Reserve Bank of India to cut lending interest rate.

Growth in factory output, as measured by the Index of Industrial Production (IIP), was 6.2 per cent in May 2011, according to the official data released on Thursday.