June industrial output shrinks 16.6%

India’s industrial output fell 16.6% year-on-year in June, shrinking for the fourth month in a row, though the monthly measure indicated some recovery in the COVID-19 pandemic-hit sector.

Analysts polled by Reuters had expected a contraction of 20% in June, compared to a revised 33.9% annual contraction in May, the data showed.

“With the lifting of restrictions in the subsequent periods, industrial activity is resuming,” the Ministry of Statistics and Programme Implementation said in a statement on Tuesday.

Manufacturing, which contributes nearly 17% to the economy, contracted 40.7% in the three months to end-June, indicating a sharp fall in activity.

Recommended for you
This article is closed for comments.
Please Email the Editor

Printable version | Sep 28, 2020 4:48:05 AM |

Next Story