Monday , July 13 2020

India factory output declines first time in 2 years in Aug


India’s factory output contracted for the first time in more than two years in August, as a sharp fall in capital goods and consumer durables production weighed on activity.
The index of industrial production fell 1.1% in August, data released by the Ministry of Statistics showed Friday. That compares with an estimate for a 1.7% expansion.
The decline, last seen in June 2017, underscores worsening demand in an economy expanding at the slowest pace in six years. Capital goods output dropped 21% from a year
ago, while consumer durables fell 9.1%.

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