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Industrial production drops by 1.1% in August

The cumulative growth for the period April-August 2019 over the corresponding period of the previous year stands at 2.4%, according to data released by the Ministry of Statistics & Programme Implementation.

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Led by negative growth of 23% in the automobile sector, Index of Industrial Production (IIP), a measurement of factory output, has slowed down to 1.1% in August as compared to the same month last year. 

The cumulative growth for the period April-August 2019 over the corresponding period of the previous year stands at 2.4%, according to data released by the Ministry of Statistics & Programme Implementation.

IThe Index of Industrial Production (IIP) had expanded by 4.8% in August 2018.

The Indices of Industrial Production for the Mining, Manufacturing and Electricity sectors for the month of August 2019 are at 0.1%, -1.2% and -0.9% as compared to August 2018. 

The cumulative growth in these three sectors during April-August 2019 over the corresponding period of 2018 has been 2.8%, 2.1% and 5.0% respectively, the Ministry of Statistics & Programme Implementation said.

It further said that 15 out of 23 industry groups in the manufacturing sector have shown negative growth during the month of August 2019 as compared to the corresponding month of the previous year.

The industry group ‘Manufacture of motor vehicles, trailers and semi-trailers’ has shown the highest negative growth of -23.1%, followed by -21.7% in ‘Manufacture of machinery and equipment n.e.c.’ and -18.0% in 'other manufacturing’.

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