After contracting for the first time in 15 years in the previous month, industrial production recovered to grow by 2.4 per cent in November 2008, even though lagging behind the 4.9 per cent in the same month last year.

For the first eight months, industrial output, as measured by the Index of Industrial Production (IIP), rose by 3.9 per cent against 9.2 per cent in the corresponding period of 2007-08.