IIP witnesses contraction of 0.8% in August against growth of 2.4% in July

New Delhi: The Index of Industrial Production (IIP) witnessed contraction of 0.8 percent in August against growth of 2.4 percent in July this year. According to the Ministry of Statistics and Programme Implementation data released yesterday, the IIP had risen 13.0 per cent in August last year.

The industrial output so far in the fiscal year 2022-23 (April-August) has risen 7.7 per cent,



compared to a spike of 29.0 per cent in the corresponding period a year ago, the data showed.

IIP is an index which details out the growth of various sectors in the economy. The Eight Core Industries comprise more than 40 percent of the weight of items included in IIP. These are Electricity, steel, refinery products, crude oil, coal, cement, natural gas and fertilisers.