IIP shrinks 2.4% in July, lowest in 8-months
India's industrial output contracted by 2.4% in July, lowest in 8 months, due to a decline in capital goods production and manufacturing activities, according to government data released on Monday. The manufacturing sector, which constitutes over 75% of the Index of Industrial Production (IIP), contracted by 3.4% in July, while the capital goods output declined by 29.6% during the month.