Industrial production slows to 2.4% in May

July 12, 2012 12:26

Just in: The disinvestment of SAIL has been deferred as the steel minister is not in town.

Meanwhile, industrial production growth rate slowed to 2.4 per cent in May, 2012 due to contraction in capital goods and mining output, coupled with poor show by manufacturing sector, indicating persistent slowdown that may prompt RBI to cut lending interest rate. Growth in factory output, as measured by the Index of Industrial Production (IIP), was 6.2 per cent in May 2011, according to the official data released today.

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