The factory output, as measured by the Index of Industrial Production (IIP), had contracted by 0.5 percent in March 2014.

For 2014-15 fiscal, industrial production grew at 2.8 percent as against contraction of 0.1 percent in 2013-14, the data released by the Central Statistics Office on Tuesday showed.

Meanwhile, the IIP for February has been revised downwards to 4.86 percent from the provisional estimate of 5 percent released last month. The IIP had grown at 2.77 percent in January, 3.56 percent in December and 5.2 percent in November. The factory output contracted by 2.7 percent in October.

Manufacturing output, which constitutes over 75 percent of the index, grew by 2.2 percent in March against a contraction of 1.3 percent in the same month a year ago. The production of capital goods, a barometer of demand, grew by 7.6 percent in March as against a contraction of 11.5 percent in same month of last year.

Mining sector grew by 0.9 percent in March 2015 against 0.5 percent expansion in the same month last year. Overall, 13 out of 22 industry groups in the manufacturing sector showed positive growth during the month of March.

For whole 2014-15, the manufacturing sector expanded by 2.3 percent, against a contraction of 0.8 percent in 2013-14. Capital goods output grew by 6.2 percent in last fiscal as against a dip of 3.6 percent in 2013-14.

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