Industrial output contracts 1.3% y-o-y in Dec
India's index of industrial production (IIP) for the month of December contracted by 1.3%  year-on-year. While the mining and electricity sectors witnessed a growth of 2.9% and 3.2% respectively, the manufacturing sector contracted by 2.4%. Industrial output had fallen into the negative territory on contracting by 3.2% in November after recording a five-year high expansion rate of 9.8% in October.