Key Points
Factory output slowed in March to expand by 4.9% from a 5.6% grow in February but managed to average a 5.8% growth in the fiscal year 2023-24 as against a slower 5.2% expansion in 2022-23...
According to official data released on Friday on the Index of Industrial Production, all three sectorsmining, manufacturing and electricity generation registered positive growth in March..
Manufacturing grew at a five month high at 5.2% in March 2024 and by 5.5% for the full fiscal year 2023-24..
She also noted that upbeat performance in the infrastructureand construction goods segment remained supportive of the growth in industrial activity and the agency expectsthis momentum to continue going forward..
Aditi Nayar, Chief Economist, Head Research and Outreach, ICRA said the agency anticipates the YoY IIP growth to decelerate to about 3-4% in that month from 4.9% in March 2024, owing to an adverse base..
