India’s industrial production dropped unexpectedly on weaker manufacturing and mining output in January, data from the statistics ministry revealed on Friday.
Industrial production logged an annual fall of 1.6 percent, in contrast to the revised 1.6 percent expansion in December. Production was expected to gain 0.9 percent.
The decline was driven by a 2 percent drop in manufacturing output and a 3.7 percent fall in mining output. Meanwhile, the annual decrease was partially offset by the 5.5 percent growth in electricity output.
During April to January, industrial production was down 12.2 percent from the same period last year.
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