Manufacturing drags industrial production growth to 4.3% in December

Growth in factory output decelerated to a two-month low of 4.3 per cent in December as manufacturing dragged the overall growth in the Index of Industrial Production (IIP) even as mining and electricity production grew at a robust pace.

Data released by the National Statistical Office (NSO) on Friday showed mining and electricity sectors grew at 9.8 per cent and 10.4 per cent, respectively, while manufacturing managed to grow by 2.6 per cent.

In the first three quarters of FY23 (April- December), IIP grew 5.4 per cent against 15.2 per cent during the year-ago period.

Eleven of 23 manufacturing sectors