After dipping into negative zone during October, Index for industrial production (IIP) registered a positive growth of 2.4% in November 2008.

Industrial action has contracted by 0.3% in October 2008.

IIP stood at 4.9% during the corresponding period of the last year (Nov 2007).

For the first eight months, IIP increased by 3.9 percent as against 9.2 percent in the corresponding period of 2007-08.

The November IIP data does not consider the impact of the stimulus packages declared during the last month (December 2008), and it is expected that numbers for the upcoming month may be better.

Manufacturing, which accounts for about 80 percent of IIP climbed up by 2.4 percent in November as 10 out of 17 subgroups in the sector recorded positive growth during the month.

Electricity generation also remained healthy recording a growth of 3.1 percent as against 5.8 percent, while mining output increased by 0.5% from 6.3%.

But, capital goods and consumer durables production slumped in the month of November.