Industrial growth slips to 3.1% in May

There was a slowdown in the manufacturing, which grew at 2.5% in May compared to 3.6% a year ago

Industrial growth, Mining, Power plant

Industrial production grew at 3.1% in May, mainly on account of improvement in power generation, according to official data released. The Index of Industrial Production (IIP) had expanded by 3.8% in May 2018.

The expansion in power generation sector stood at 7.4% compared to 4.2% in the year-ago month.

Mining growth was at 3.2% in May as against 5.8% in the corresponding month of the last fiscal.

However, there was a slowdown in the manufacturing sector, which grew at 2.5% in May compared to 3.6% a year ago.

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