New Delhi, July 10 (Inditop.com) India’s industrial production registered 2.7 percent growth in May – the highest since September last year – signalling economic recovery, fresh data showed Friday.
The index of industrial production (IIP) had expanded by 1.4 percent in April, signalling the early signs of recovery.
Data released by the commerce ministry showed output in the manufacturing sector had risen in May by 2.5 percent, while sectors like power generation and mining grew by 3.3 and 3.7 percent respectively.
The consumer durable sector too registered a growth of 12.4 percent against 2.8 percent in the corresponding period last fiscal. This is also an indication that demand has picked up over the period.
The capital goods industry, however, declined 3.6 percent.
In April, the industrial output grew 1.2 percent.
The cumulative rate of growth for April-May was 1.9 percent, compared to 5.3 percent in the corresponding period last fiscal.
