IIP Data: Industrial production shrank by 1.9 per cent in November 2020
Industrial production in the country contracted by 1.9 per cent in November 2020, after registering a growth in October, government data showed on Tuesday, January 12. According to the Index of Industrial Production (IIP) data, the manufacturing sector output shrank by 1.7 per cent in November 2020. The mining output also contracted 7.3 per cent, while power generation grew 3.5 per cent. The IIP had grown by 2.1 per cent in the corresponding month of 2019. Industrial production has been hit due to the COVID-19 pandemic since March 2020, when the IIP declined by 18.7 per cent in the month. (
Industrial production or the factory output is gauged by the Index of Industrial Production (IIP) that takes into consideration, the activity recorded in sectors such as mining, manufacturing, and electricity.
Index of Industrial Production, November 2020: The country's output of eight core sectors - also known as infrastructural output, contracted by 2.6 per cent in the month