IIP contraction eases to 16.6% in June
20-Apr-2022The IIP witnessed a contraction of 16.6% in the month of June as against 34% in May’20. During Q1 of FY2020-21, IIP contracted 35.3%, which may heavily weigh on GDP growth for that quarter. In June, manufacturing (17.1%) activity improved the most with contraction in output coming down to 17.1% from 38.4% in May while contraction in mining (19.8%) and electricity (10%) sectors recovered only marginally.