India posts 1.5pct plunge in industrial output over Jan

(MENAFN) Hampered by a severe deterioration in manufacturing and capital goods segments, India's factory production dipped for the third consecutive month in January.

Accordingly, industrial outcome contracted an annual 1.5pct over the cited month compared to 2.8pct growth in last year's same month and a fall of 1.2pct from December.

Moreover, the capital goods division, which is seen as a gauge of industrial activity, dropped 20.4pct y-o-y in Jan compared to an expansion of 12.4pct in 2015's January.

"The unabated contraction in manufacturing output for the third consecutive month poses concerns and signs of lower economic activity," stated a senior economist.