In­dus­trial Out­put Shrinks in Dec as De­mon­eti­sa­tion Hits De­mand

The Economic Times - - Front Page -

In­dus­trial pro­duc­tion con­tracted in De­cem­ber 2016 due to a sharp de­cline in pro­duc­tion of con­sumer goods, con­firm­ing a de­mon­eti­sa­tion­led con­trac­tion in de­mand. In­dex of In­dus­trial Pro­duc­tion (IIP) was 0.4% lower in De­cem­ber 2016 from the same pe­riod a year ago. The num­ber was well be­low the 5.7% growth in Novem­ber and con­sen­sus ex­pec­ta­tion of around 1% growth in De­cem­ber.

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