Question: Growth in the Index of Industrial Production (IIP) was at ____ in December, 2018.
(a) 2.6%
(b) 2.0%
(c) 2.9%
(d) 3.2%
Answer :(a)
Related facts:
- The data of Index of Industrial Production (IIP) was released by the Central Statistics Office (CSO) on 12 March, 2019.
- Growth in the IIP was at 2.6% in December 2018.
- Industrial activity slowed in January 2019 growing by just 1.7% due in large part to a deceleration in the manufacturing, electricity and capital goods sectors.
- In a separate release, government data showed that retail inflation in February snapped a four-month declining trend by rising to 2.57%.
- IIP saw growth slip below the 2% for the second time in three months in January. With the previous occurrence being the 0.32% growth seen in November, 2018.
- Within the IIP, the mining and quarrying sector was one of the only major sectors that saw growth accelerating, from a contraction of 0.39% in December to a growth of 3.9% in January.
- The construction sector witnessed the strongest growth of all the major sectors, of 7.9%, but this was still significantly slower than the 10% seen in December.
- Retail inflation, as measured by the consumer Price Index (CPI), rose for the first time in five months in February to 2.57% from 1.97% in January, mainly due to firming food prices as per official data.
- Inflation in food and beverages sector stood at -0.07% in February compared with -1.29% in January.
- The housing sector saw inflation slowing marginally to 5.1% from 5.2% over the same period.
- The fuel and light sector saw inflation slowing to 1.24% in February from 2.12% in January.
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