Industrial growth slips to 3.1 pc in May

Industrial production grew at 3.1 per cent in May, mainly on account of improvement in power generation, according to official data released Friday. The Index of Industrial Production (IIP) had expanded by 3.8 per cent in May 2018.

The expansion in power generation sector stood at 7.4 per cent compared to 4.2 per cent in the year-ago month. Mining growth was at 3.2 per cent in May as against 5.8 per cent in the corresponding month of the last fiscal.

However, there was a slowdown in the manufacturing sector, which grew at 2.5 per cent in May compared to 3.6 per cent a year ago.