Industrial production declined by 0.3% in December:

Mumbai , Feb 13 (HS): A. The industrial production index (IIP) declined by 0.3 percent in December 2019 due to shrinking  in the country’s manufacturing sector The Finance Minister had claimed that the country’s economy was gradually improving a day before.

The index of industrial production was recorded at 133.5 in December 2019, which is down to 0.3 percent from the December 2018 index. Earlier, in November 2019, industrial production had registered a growth of 1.82 percent, while the country’s industrial production had registered a growth of 2.5 percent in December 2018, a year earlier.

The contraction in the IIP in December raises concerns about the sustainability of the green shoots in industrial activities that were visible till last month. This does not bode well for the overall economy as global headwinds already pose significant challenges to overall industries say experts on Indian economy.

These official figures were released on Wednesday. The Industrial Production Index (IIP) registered a growth of 2.5 percent during December 2018. Significantly, after the budget, there have been both  good and bad news for the economy.