Industrial production grows 5.1% in May
New Delhi, June 30 -- India's industrial output gained between April and May, but a granular reading of the data showed the impact of the West Asia crisis in parts of industry, especially in gas supply and the moderation in manufacturing growth from April levels. The Index of Industrial Production (IIP) grew 5.1% year-on-year in May, up from 4.9% in April and 3% in March. This is a modest 0.7 percentage points higher than the 4.4% pre-war print in February.
The sector-wise trajectory shows the uneven nature of the recovery. Manufacturing, which carries the highest weight in the index at 76.1%, grew 5.7% in February, slowed to 4% in March, rebounded to 6.1% in April, and moderated to 5.5% in May. Electricity and gas supply rose from 1.9% in ...
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