India's industrial production shrank by 1.1% in August, poorest performance in 7 years

Factory Output or Industrial production is measured by the estimate of the Index of Industrial Production (IIP) has shrunk by 1.1% in August as compared with an expansion of 4.3% in July. The IIP expanded by 4.8% in August 2018. The cumulative growth in April-August over the corresponding period of the previous year was 2.4%. The factory output declined due to poor show by manufacturing, power generation & mining sectors.