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Industrial production contracts 8% in August

Oct 13, 2020 12:46 IST

Industrial production declined by 8% in August on account of lower output of manufacturing, mining and power generation sectors, official data showed on Monday. As per the latest data, the manufacturing sector, which constitutes over 77% of the IIP, recorded a decline of 8.6% in August 2020. The IIP had contracted by 1.4% in August 2019 and by 10.8% in July 2020. It had shrunk by 57.3% in April as most industrial and commercial establishments remained closed.

Economy