Contraction in India's industrial activity eased by nearly 6%

A sequential rebound in industrial activity eased the contraction rate of India's factory output in July, official data showed on Friday.

However, Covid-19 pandemic continued to heavily dent India's factory output on a year-on-year basis.

As per the Quick Estimates of Index of Industrial Production (IIP), the contraction in factory output eased to (-) 10.4 per cent in July from (-) 16 per cent reported for June.

However, on a YoY basis, the comparison became more stark, as the IIP had registered a growth of 4.9 per cent in the corresponding period of last year.

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