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Industrial growth in June slips to 5.4pc
Tue-Aug 12, 2008
New Delhi / Press Trust of India
A slowdown in the manufacturing sector pulled down India's industrial growth in June to 5.4 percent from 8.9 percent a year ago, but consumer sector nursed its way back to health growing 10 percent.
Growth in manufacturing sector, which accounts for over two-third of the Index of Industrial Production, fell drastically to 5.9 percent from 9.7 percent a year ago.
Manufacturing exhibited a similar trend in the first quarter as well, growing by a poor 5.6 percent compared with 11.1 percent last year.
The only silver lining was that consumer durables growth gathered momentum in June registering a growth of 3.5 percent against a negative growth of 3.6 percent last year, pushing up the overall consumer sector growth to 10 percent.
Electricity sector growth fell to 2.6 percent against 6.8 percent a year ago, while mining sector bounced back to post 2.9 percent growth compared with 1.5 percent.
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