India's factory output hits three-month low at 3.7% in June

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India's factory output hits three-month low at 3.7% in June

STORY: India's factory output hits three-month low at 3.7% in June DATELINE: Aug. 13, 2023 LENGTH: 00:01:15 LOCATION: New Delhi CATEGORY: ECONOMY SHOTLIST: 1. various of India gate 2. various of manufacturing activities 3. various of packaging STORYLINE: Factory output in India has faced a notable slowdown, reaching a three-month low of 3.7 percent in June. This decline is mainly attributed to slower growth in manufacturing and an impact from a high-base effect, according to data released by the National Statistical Office (NSO) on Friday. The manufacturing sector, which holds a significant weight of 77.6 percent in the Index of Industrial Production (IIP), experienced a mere 3.1 percent growth in June. This is a substantial drop from the 12.9 percent growth witnessed in the same period last year, as well as a decrease from the 5.8 percent growth seen in May. As per the IIP data, 14 out of the 23 sectors in manufacturing experienced a contraction in June. Notably, sectors such as food, textiles, and elec

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