India's industrial output falls for third straight month, contracts 1.5% in January

Zee Media Bureau

New Delhi: India's industrial production contracted for the third straight month in January falling 1.5 percent on a year-to-year basis due to poor perfomance in manufacturing sector.

As per data on index of industrial production (IIP) released by the Central Statistics Office, December IIP was dragged lower by a (-)2.8 percent drop in manufacturing activity.

Between the other broader indices, electricity production rose by 6.6 percent, while that for mining was up by 1.2 percent.

The Index of Industrial Production (IPP) measuring factory output had grown by 2.6 percent in January, 2015.

The April-January index of industrial production however stood at 2.7 percent.

In the month of December, the industrial production had fallen by 1.3 percent, mainly due to drop in manufacturing and capital goods sector.

In November too, it had falled by 3.2 percent - the lowest level in over four years -- due to poor performance of manufacturing sector and a sharp decline in capital goods output.