India's factory output declined again in January, by (-)1.53 per cent, moving down further from the (-)1.18 per cent dip registered in the month before, official data showed on Friday. In comparison, there was a growth of 2.8 per cent in January 2014.
As per data on index of industrial production (IIP) released by the Central Statistics Office, the country's factory output logged a cumulative growth of 2.7 per cent rise in the first 10 months of the current fiscal year.
Cumulative growth during the corresponding period of last fiscal also stood at 2.6 per cent.
December IIP was dragged lower by a (-)2.8 per cent drop in manufacturing activity. Between the other broader indices, electricity production rose by 6.6 per cent, while that for mining was up by 1.2 percent.
The high negative contributors to the dip in the overall index included cables, insulated rubber, antibiotics, stainless and alloy steels, sponge iron and passenger Cars. Electricity, commercial vehicles, mobile phones, cement and gems and jewellery were positive contributors.