More signs of distress: Over 10% contraction in July factory output

Apart from the phonemakers, nearly 40 electronic component manufacturers had also applied to set up new units or expand existing plants under the PLI scheme. (File)

Factory output continued to decline for the fifth consecutive month in July, posting a contraction of 10.4 per cent, mainly due to degrowth in manufacturing, mining, capital goods, and consumer durables output, data released by the National Statistical Office (NSO) on Friday showed.

The data, however, recorded a sequential improvement from 15.8 per cent contraction seen in June, reflecting some resumption in industrial activity with the lifting of lockdown…