Industrial production posted 2.4 per cent growth in November 2008. Industrial output recorded negative growth in previous months, first time in 15 years.

Industrial Output growth rate was 4.9 per cent in the same month last year. It reported increase of 3.9 per cent for first eight months of current financial year as compared to 9.2 per cent in the same period of FY 2007-08.

Improvement in growth rate has been registered due to signs of recovery in industrial activity in second half of November and lower base effect in corresponding month last year helped to improve industrial output.

Manufacturing grew by 2.4 per cent in November against 4.7 per cent. It contributes around 80 per cent of the index. Electricity generation and mining output rose 3.1 per cent and 0.5 per cent respectively in the reporting period. However, consumer index continued to decline in November.

Experts believe that industrial growth rate may also improve in December as the impact of economic booster is not included while calculating net industrial growth rate.