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Article: Industrial growth rate dips to 5.3 per cent in November.
- Article from:
- PTI - The Press Trust of India Ltd.
- Article date:
- January 11, 2008
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Industrial growth rate dips to 5.3 per cent in November
New Delhi, Jan 11 (PTI) The country's industrial growth nosedived to 5.3 per cent in November 2007 from nearly triple in the same month a year ago after higher interest rates curbed consumer spending and slowed down manufacturing sector.
The Index of Industrial Production (IIP) fell from 15.8 per cent in November 2006, while manufacturing output during the same month slipped to 5.4 per cent from 17.2 per cent, according to official data released today.
Some economists reasoned that the Diwali festival season during the month partly impacted industrial activity, while Commerce and Industry ...