New Delhi– A month after the government went in for demonetisation, India’s factory output contracted by (-)0.4 per cent in December, official data showed on Friday.
The factory output, as per the Index of Industrial Production (IIP), had risen by 5.7 per cent in November, 2016. Earlier, it encountered a (-)0.9 per cent slide in the corresponding month of the previous year.
As per the IIP data released by the Central Statistics Office (CSO), the contraction was mainly on account of a 2.00 per cent decline in manufacturing output, which has the maximum weight in the overall index.
