BUSINESS

Industrial output dips

NEW DELHI OCT. 10. Industrial output rose marginally in the first five months of the current fiscal despite a dip in performance in August. Growth fell during the month to 5.2 per cent from 6.2 per cent. Cumulative growth over the period, however, remained higher at 5.6 per cent compared to 5.2 per cent last year.

According to quick estimates of the Index of Industrial Production released here today by the Central Statistical Organisation (CSO), the improved performance during the year so far is largely due to a robust 6.2 per cent growth in the manufacturing sector as against 5 per cent in the corresponding period last year. The mining sector, on the other hand, posted only a 4.4 per cent growth as against 7.6 per cent in the same period last year while electricity output rose by a meagre 2.4 per cent from 4.2 per cent in April-August 2002. The CSO data show that growth in all three sectors fell during August. The manufacturing sector recorded a growth of 6 cent against 6.5 per cent recorded in August last year. Electricity output fell sharply to 0.9 per cent from 4.1 per cent while the mining sector also slowed down with 2.5 per cent growth as against 5.7 per cent in August last year.