IIP data disappointing: FM

The slower growth in industrial output in August was disappointing,Finance Minister Pranab Mukherjee said on Tuesday.

The annual industrial output growth plummeted to single-digits in August 8212; to 5.6 per cent compared with an upwardly revised 15.2 per cent growth in July.

But analysts cautioned that the wild swing in figures between July and August may hide the fact that growth was still steady.

India,Asia8217;s third-largest economy,is expected to grow at least 8.5 per cent in the current financial year that ends in March 2011.