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India's Manufacturing Output Growth Slows to 5.5% in May

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Manufacturing production growth in India decelerated to 5.5% year over year in May, according to data released Monday by the Ministry of Statistics and Programme Implementation.

The sector's performance, which accounts for over 76% of the total Index of Industrial Production (IIP), compared with a 6.2% increase in the previous month.

Out of the 23 industry groups within the manufacturing sector, 16 recorded positive growth during the month.

The top three positive contributors for the month were the manufacture of motor vehicles, trailers and semi-trailers, which edged up 14.5% year over year; followed by electrical equipment at 20.8%; and basic metals at 4.6%.

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