Industrial production rebounded 2 percent month-on-month (MoM) in January against a 0.3 percent contraction in December amid subdued performance of the manufacturing sector, according to the Index of Industrial Production (IIP) data released by the Central Statistics Office (CSO) on Thursday.

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Industrial output, or factory output, is the closest approximation for measuring the economic activity of the country's business landscape. The Index of Industrial Production (IIP) had grown by 1.6 per cent in January 2019.

According to data from the National Statistical Office (NSO), the manufacturing sector output grew by 1.5 percent as compared with a rise of 1.3 percent in the corresponding month a year ago.

Electricity generation rose 3.1 percent, against 0.9 percent growth in January 2019. The mining sector output posted a growth of 4.4 percent in January 2020, compared with a rise of 3.8 percent a year ago.

The IIP growth during the April 2019-January 2020 period decelerated to 0.5 percent, from 4.4 percent expansion in the corresponding period of 2018-19.

India's retail inflation rate in February stood at 6.58 percent, mainly due to easing food prices, government data showed. The retail inflation based on Consumer Price Index (CPI) was 7.59 percent in January and 2.57 percent in February 2019.

The inflation in the food basket was 10.81 percent in February 2020, lower from 13.63 percent in the previous month, as per the CPI data released by the National Statistical Office (NSO).

The indices of industrial production for the mining, manufacturing and electricity sectors for January 2020 stand at 124.3, 137.6 and 155.6 respectively, with the corresponding growth rates of 4.4 percent, 1.5 percent and 3.1 percent as compared to January 2019.

The cumulative growth in these three sectors during April-January 2019-20 over the corresponding period of 2018-19 has been 1.0 percent, 0.3 percent and 0.9 percent respectively.

First Published:Mar 12, 2020 5:33 PM IST