Industrial production contracts for first time in nearly 2 years
- Posted on October 12, 2024
- By Business News Today
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Industrial production contracts for first time in nearly 2 years
India's industrial output dropped by 0.1% in August, marking the first contraction in 22 months due to an unfavourable base and declines in mining and electricity. Industrial growth for the current financial year's first five months was 4.2%. Economists expect a recovery with the monsoon and festive season boosting rural demand and consumption.