India's industrial output contracted by 0.1% in August due to decreased mining and electricity production.
India's industrial output contracted by 0.1% in August, marking its first decline in 22 months, primarily driven by decreased mining and electricity production. While manufacturing grew by 1%, it was the slowest rate in nearly two years. The contraction is attributed to a high base effect and adverse weather conditions. Despite the downturn, experts anticipate a rebound in industrial activity starting in September, fueled by increased government spending and seasonal demand.
October 11, 2024
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