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Industrial production declines in first eight months

Continuing the downward trend in the current financial year, industrial production has declined to 6 per cent in the April-November period of current financial year as against 6.2 per cent registered in the same period of the previous year.

Manufacturing sector with over two-third weightage in the Index of Industrial Production grew at 6.3 per cent in the first eight months compared to 6.6 per cent growth posted in the corresponding period last year.

According to quick estimates of IIP released by Central Statistical Organisation on Friday, the manufacturing sector, however, showed signs of recovery in the month of November 2000 as it registered a higher growth of 6.5 per cent against just 3.7 per cent in November 1999.

Electricity sector also registered a lower growth rate of 4.9 per cent during April-November 2000 compared to 8.2 per cent last year.

Mining sector, however, recovered further and posted a growth rate of 4.1 per cent against a meagre 0.5 per cent growth registered in the first eight months in last financial year, the CSO release said.

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