Indian economy growth slowing down? IIP sinks to 1.6% @WaveDreamz

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Indian economy growth slowing down? IIP sinks to 1.6%

Indian economy growth slowing down? IIP sinks to 1.6%
The booming Indian economy might be slowing down. And fast.

India's Index of Industrial Production -- which measures industrial growth -- plunged to a dismal 1.6 per cent in December 2010 from 18 per cent in the same period a year ago due to the poor performance of the manufacturing sector.

In November, 2010, the Index of Industrial Production had expanded by a meagre 2.7 per cent.

Industrial growth during April-December this fiscal stood at 8.6 per cent, unchanged in comparison to the corresponding period of the previous year, official data released on Friday showed.

In December 2010, manufacturing growth plummeted to 1 per cent from 19.6 per cent a year ago..