At -1.1%, IIP growth in August hits lowest level since November 20122 min read . Updated: 11 Oct 2019, 11:18 PM IST
- Bleak performance may pave way for further rate cuts by the central bank
- Pace of growth of intermediate goods halved to 7% after double digit expansion for three straight months
New Delhi: India’s factory output contracted for the first time in 26 months in August with both manufacturing and electricity output slipping into negative territory, signalling a further deepening of the broad based economic downturn.
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