Negative zone IIP may pull the Indian economy downwards
Indian industry appears to be thwarted with the most recent reports as IIP in negative zone may pull down the Indian economy. Reports of the manufacturing sector performing poorly appear to have outraged the industry.
In February 2014, the low consumption remained to haul the manufacturing. As per the CSO (Central Statistics Office) IIP (Index of Industrial Production) for February 2014 was around 1.9% lower than the February 2013. Reports hint that 13 out of 22 industry groups coming under manufacturing sector underwent negative growth.
Categories: Business, Economy & Banking