Industrial production shrinks 0.8% in April

Posted on:14 Jun 2016 14:30:26
Industrial production shrinks 0.8% in April
14 June 2016 Current Affairs: The country’s industrial production shrank 0.8 %  in April this year, dragged down by a poor performance of the manufacturing and capital goods sectors.

Factory output, as measured by the Index of Industrial Production, IIP, had expanded 3 % in April last year.

Data released by the Central Statistics Office showed that the manufacturing sector, which constitutes over 75 % of the index, contracted 3.1% in April this year.

Capital goods output shrank a hefty 24.9% during the month.

Overall consumer goods output dipped 1.2 % in April, while consumer non-durable production fell 9.7 %.

But production of consumer durable jumped 11.8 %, and electricity generation surged 14.6 % during the month.

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