India's industrial output growth contracts 1.3% in December

Zee Media Bureau

New Delhi: India's industrial output growth contracted by 1.3 percent in December due to poor performance of manufacturing sector.

The cumulative growth for the period April-December 2015 over the corresponding period of the previous year stood at 3.1 percent.

As per data released by the Central Statistics Office (CSO), the manufacturing sector, a key indicator of economic activity, shrinked by 2.4 percent year-on-year in November.

The IIP growth had grew at five-year high rate of 9.8 percent in October on impressive performance of capital and consumer goods, possibly driven by Diwali season demand.