Industrial production declines 8 pc in August

According to the Index of Industrial Production (IIP) data, manufacturing sector production registered a decline of 8.6 per cent, while the output of mining and power segments fell 9.8 per cent and 1.8 per cent, respectively. The IIP had contracted by 1.4 per cent in August 2019.

Industrial production declined by 8 percent in August, mainly due to lower output of manufacturing, mining, and power generation sectors, official data showed on Monday. According to the Index of Industrial Production (IIP) data, manufacturing sector production registered a decline of 8.6 percent, while the output of mining and power segments fell 9.8 percent and 1.8 percent, respectively.

The IIP had contracted by 1.4 percent in August 2019. " It may not be appropriate to compare the IIP in the post-pandemic months with the IIP for months preceding the COVID 19 pandemic," the Ministry of Statistics and Programme Implementation said in a statement.

"With the gradual relaxation of restrictions, there has been a relative improvement in the economic activities by varying degrees as well as in data reporting," it added.