India’s Index of Industrial Production shrank 0.3% in December compared to 2.5% growth in the same month a year ago, according to National Statistical Office data. The manufacturing sector output declined by 1.2% compared to 2.9% growth in December 2018. The IIP growth during April-December period decelerated to 0.5% from a growth of 4.7% in same period of 2018.

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