{"id":32656,"date":"2025-04-13T21:18:28","date_gmt":"2025-04-13T15:48:28","guid":{"rendered":"https:\/\/edunovations.com\/currentaffairs\/?p=32656"},"modified":"2025-04-15T06:07:36","modified_gmt":"2025-04-15T00:37:36","slug":"industrial-production","status":"publish","type":"post","link":"https:\/\/edunovations.com\/currentaffairs\/indian_industries\/industrial-production\/","title":{"rendered":"Industrial Production Slowdown in February 2025: Growth Drops to 2.9%"},"content":{"rendered":"\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_84 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/edunovations.com\/currentaffairs\/indian_industries\/industrial-production\/#Introduction_Slowdown_in_Industrial_Growth\" >Introduction: Slowdown in Industrial Growth<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/edunovations.com\/currentaffairs\/indian_industries\/industrial-production\/#Sector-Wise_Analysis_of_the_Decline\" >Sector-Wise Analysis of the Decline<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/edunovations.com\/currentaffairs\/indian_industries\/industrial-production\/#Factors_Behind_the_Decline\" >Factors Behind the Decline<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/edunovations.com\/currentaffairs\/indian_industries\/industrial-production\/#Implications_for_the_Economy\" >Implications for the Economy<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/edunovations.com\/currentaffairs\/indian_industries\/industrial-production\/#Why_This_News_is_Important\" >Why This News is Important<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/edunovations.com\/currentaffairs\/indian_industries\/industrial-production\/#Relevance_to_Government_Exam_Aspirants\" >Relevance to Government Exam Aspirants<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/edunovations.com\/currentaffairs\/indian_industries\/industrial-production\/#Impact_on_Key_Sectors\" >Impact on Key Sectors<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/edunovations.com\/currentaffairs\/indian_industries\/industrial-production\/#Understanding_Economic_Slowdown\" >Understanding Economic Slowdown<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/edunovations.com\/currentaffairs\/indian_industries\/industrial-production\/#Historical_Context_Background_Information\" >Historical Context: Background Information<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/edunovations.com\/currentaffairs\/indian_industries\/industrial-production\/#The_IIP_and_Its_Significance\" >The IIP and Its Significance<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/edunovations.com\/currentaffairs\/indian_industries\/industrial-production\/#Industrial_Growth_Trends_in_Recent_Years\" >Industrial Growth Trends in Recent Years<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/edunovations.com\/currentaffairs\/indian_industries\/industrial-production\/#Key_Takeaways_from_%E2%80%9CIndustrial_Production_Slows_to_a_6-Month_Low_of_29_in_February_2025%E2%80%9D\" >Key Takeaways from &#8220;Industrial Production Slows to a 6-Month Low of 2.9% in February 2025&#8221;<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/edunovations.com\/currentaffairs\/indian_industries\/industrial-production\/#FAQs_Frequently_Asked_Questions\" >FAQs: Frequently Asked Questions<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-14\" href=\"https:\/\/edunovations.com\/currentaffairs\/indian_industries\/industrial-production\/#1_What_was_the_industrial_production_growth_rate_in_February_2025\" >1. What was the industrial production growth rate in February 2025?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-15\" href=\"https:\/\/edunovations.com\/currentaffairs\/indian_industries\/industrial-production\/#2_Which_sectors_contributed_to_the_decline_in_industrial_production_in_February_2025\" >2. Which sectors contributed to the decline in industrial production in February 2025?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-16\" href=\"https:\/\/edunovations.com\/currentaffairs\/indian_industries\/industrial-production\/#3_How_does_industrial_production_affect_the_Indian_economy\" >3. How does industrial production affect the Indian economy?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-17\" href=\"https:\/\/edunovations.com\/currentaffairs\/indian_industries\/industrial-production\/#4_What_was_the_growth_rate_of_the_manufacturing_sector_in_February_2025\" >4. What was the growth rate of the manufacturing sector in February 2025?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-18\" href=\"https:\/\/edunovations.com\/currentaffairs\/indian_industries\/industrial-production\/#5_What_are_the_potential_economic_consequences_of_the_slowdown_in_industrial_production\" >5. What are the potential economic consequences of the slowdown in industrial production?<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-19\" href=\"https:\/\/edunovations.com\/currentaffairs\/indian_industries\/industrial-production\/#Some_Important_Current_Affairs_Links\" >Some Important Current Affairs Links<\/a><\/li><\/ul><\/nav><\/div>\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Introduction_Slowdown_in_Industrial_Growth\"><\/span><strong>Introduction: Slowdown in Industrial Growth<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">India&#8217;s <strong>industrial production<\/strong> has decelerated to a six-month low of <strong>2.9%<\/strong> in <strong>February 2025<\/strong>, according to data released by the <strong>Ministry of Statistics and Programme Implementation<\/strong>. This slowdown marks a significant decline compared to the previous months, which had shown higher growth rates. Industrial production, as measured by the <strong>Index of Industrial Production (IIP)<\/strong>, is a crucial indicator of the health of the industrial sector and the economy as a whole.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Sector-Wise_Analysis_of_the_Decline\"><\/span><strong>Sector-Wise Analysis of the Decline<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">The <strong>2.9% growth<\/strong> in February 2025 is a notable slowdown from the <strong>4.8%<\/strong> growth recorded in <strong>January 2025<\/strong>. Key sectors contributing to the slowdown include <strong>mining<\/strong>, <strong>manufacturing<\/strong>, and <strong>electricity<\/strong>. Manufacturing, which holds the largest weight in the IIP index, grew at a mere <strong>2.6%<\/strong>, down from 5.2% in the previous month. Similarly, electricity production saw a dip, growing at only <strong>3.3%<\/strong> compared to <strong>7.1%<\/strong> in January 2025.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Factors_Behind_the_Decline\"><\/span><strong>Factors Behind the Decline<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">The decline in industrial production can be attributed to multiple factors. The global economic uncertainties, along with a slowdown in domestic demand, have contributed to lower production in several industries. Additionally, rising input costs and inflationary pressures have affected the cost structure for industries, leading to reduced output.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Implications_for_the_Economy\"><\/span><strong>Implications for the Economy<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">A slowdown in industrial production is a concern as it affects <strong>employment<\/strong>, <strong>investment<\/strong>, and <strong>overall economic growth<\/strong>. If the trend continues, it could result in lower GDP growth for the fiscal year 2025-26. However, the government and the Reserve Bank of India (RBI) are expected to monitor these developments closely and adjust fiscal and monetary policies accordingly.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full is-resized\" id=\"Industrial-production-slowdown-February-2025\"><img decoding=\"async\" width=\"300\" height=\"168\" src=\"https:\/\/edunovations.com\/currentaffairs\/wp-content\/uploads\/2025\/04\/download-6-6.jpeg\" alt=\"Industrial production slowdown February 2025\" class=\"wp-image-32657\" style=\"width:700px;height:auto\" title=\"Industrial production slowdown February 2025\"\/><figcaption class=\"wp-element-caption\">Industrial production slowdown February 2025<\/figcaption><\/figure>\n<\/div>\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Why_This_News_is_Important\"><\/span><strong>Why This News is Important<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Relevance_to_Government_Exam_Aspirants\"><\/span><strong>Relevance to Government Exam Aspirants<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">For students preparing for exams like <strong>UPSC<\/strong>, <strong>SSC<\/strong>, <strong>Banking<\/strong>, and <strong>Railways<\/strong>, understanding the state of the economy and industrial production is crucial. This slowdown is likely to be featured in <strong>General Studies<\/strong> or <strong>Economic Affairs<\/strong> sections. Questions related to <strong>IIP<\/strong>, <strong>economic indicators<\/strong>, and <strong>growth trends<\/strong> are commonly asked in competitive exams.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Impact_on_Key_Sectors\"><\/span><strong>Impact on Key Sectors<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">The slowdown in industrial production impacts multiple sectors such as <strong>manufacturing<\/strong>, <strong>mining<\/strong>, and <strong>electricity<\/strong>. These sectors directly influence employment rates, consumer spending, and government revenue. Aspirants should understand the relationship between industrial production and macroeconomic indicators like <strong>GDP growth<\/strong>, <strong>inflation<\/strong>, and <strong>employment<\/strong>.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Understanding_Economic_Slowdown\"><\/span><strong>Understanding Economic Slowdown<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">The news also helps aspirants understand the underlying factors driving the <strong>economic slowdown<\/strong>\u2014such as <strong>domestic demand<\/strong>, <strong>inflation<\/strong>, and <strong>global economic factors<\/strong>. Knowledge of these dynamics will help in analyzing current economic conditions and formulating policies, which could be asked in civil service exams like <strong>IAS<\/strong> or <strong>PSCs<\/strong>.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Historical_Context_Background_Information\"><\/span><strong>Historical Context: Background Information<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"The_IIP_and_Its_Significance\"><\/span><strong>The IIP and Its Significance<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">The <strong>Index of Industrial Production (IIP)<\/strong> is a key economic indicator that tracks the changes in the volume of industrial output in India. It covers major sectors like <strong>mining<\/strong>, <strong>manufacturing<\/strong>, and <strong>electricity<\/strong>, which form the backbone of industrial growth. Historically, India has faced fluctuations in industrial output, influenced by both <strong>domestic and global factors<\/strong>.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">In the past, India has experienced periods of growth in industrial output, as well as slowdowns during economic crises or global uncertainties. The IIP plays an essential role in the <strong>GDP calculation<\/strong>, which directly affects government policies related to <strong>inflation control<\/strong>, <strong>fiscal stimulus<\/strong>, and <strong>monetary policies<\/strong>.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Industrial_Growth_Trends_in_Recent_Years\"><\/span><strong>Industrial Growth Trends in Recent Years<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Over the last few years, industrial production in India has shown an upward trajectory following <strong>post-pandemic recovery<\/strong>. However, the recent dip in <strong>February 2025<\/strong> marks the first significant slowdown after several months of stable growth. This shift raises concerns about the broader impact on the country\u2019s <strong>economic recovery<\/strong>.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Key_Takeaways_from_%E2%80%9CIndustrial_Production_Slows_to_a_6-Month_Low_of_29_in_February_2025%E2%80%9D\"><\/span><strong>Key Takeaways from &#8220;Industrial Production Slows to a 6-Month Low of 2.9% in February 2025&#8221;<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<figure class=\"wp-block-table\"><table class=\"has-fixed-layout\"><thead><tr><th><strong>S. No.<\/strong><\/th><th><strong>Key Takeaway<\/strong><\/th><\/tr><\/thead><tbody><tr><td>1<\/td><td>Industrial production growth slowed to <strong>2.9%<\/strong> in <strong>February 2025<\/strong> from <strong>4.8%<\/strong> in January.<\/td><\/tr><tr><td>2<\/td><td>Key sectors contributing to the decline include <strong>manufacturing<\/strong>, <strong>mining<\/strong>, and <strong>electricity<\/strong>.<\/td><\/tr><tr><td>3<\/td><td><strong>Manufacturing<\/strong> sector growth dropped to <strong>2.6%<\/strong> from <strong>5.2%<\/strong> in January 2025.<\/td><\/tr><tr><td>4<\/td><td>The slowdown is driven by factors like <strong>global uncertainties<\/strong>, <strong>inflation<\/strong>, and <strong>domestic demand<\/strong>.<\/td><\/tr><tr><td>5<\/td><td>The decline in industrial production could have <strong>economic implications<\/strong> such as reduced <strong>GDP growth<\/strong>.<\/td><\/tr><\/tbody><\/table><figcaption class=\"wp-element-caption\">Industrial production slowdown February 2025<\/figcaption><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"FAQs_Frequently_Asked_Questions\"><\/span><strong>FAQs: Frequently Asked Questions<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"1_What_was_the_industrial_production_growth_rate_in_February_2025\"><\/span><strong>1. What was the industrial production growth rate in February 2025?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">The industrial production growth rate in <strong>February 2025<\/strong> was <strong>2.9%<\/strong>, marking a six-month low.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"2_Which_sectors_contributed_to_the_decline_in_industrial_production_in_February_2025\"><\/span><strong>2. Which sectors contributed to the decline in industrial production in February 2025?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">The sectors contributing to the decline include <strong>manufacturing<\/strong>, <strong>mining<\/strong>, and <strong>electricity<\/strong>.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"3_How_does_industrial_production_affect_the_Indian_economy\"><\/span><strong>3. How does industrial production affect the Indian economy?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Industrial production is a key indicator of economic health, affecting employment, investment, GDP growth, and inflation control.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"4_What_was_the_growth_rate_of_the_manufacturing_sector_in_February_2025\"><\/span><strong>4. What was the growth rate of the manufacturing sector in February 2025?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">The <strong>manufacturing sector<\/strong> grew at a rate of <strong>2.6%<\/strong> in <strong>February 2025<\/strong>, down from <strong>5.2%<\/strong> in <strong>January 2025<\/strong>.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"5_What_are_the_potential_economic_consequences_of_the_slowdown_in_industrial_production\"><\/span><strong>5. What are the potential economic consequences of the slowdown in industrial production?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">The slowdown in industrial production could lead to <strong>lower GDP growth<\/strong>, reduced <strong>employment<\/strong> opportunities, and delayed <strong>economic recovery<\/strong>.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Some_Important_Current_Affairs_Links\"><\/span>Some Important Current Affairs Links<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<div class=\"wp-block-buttons is-layout-flex wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button is-style-outline is-style-outline--1\"><a class=\"wp-block-button__link wp-element-button\" href=\"https:\/\/edunovations.com\/currentaffairs\/category\/national\/\" target=\"_blank\" rel=\"noreferrer noopener\">State Current Affairs<\/a><\/div>\n\n\n\n<div class=\"wp-block-button 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rel=\"noreferrer noopener\">Current Affairs In Hindi<\/a><\/div>\n\n\n\n<div class=\"wp-block-button is-style-outline is-style-outline--6\"><a class=\"wp-block-button__link wp-element-button\" href=\"https:\/\/edunovations.com\/currentaffairs\/category\/news-and-notifications\/\" target=\"_blank\" rel=\"noreferrer noopener\">News and Notifications<\/a><\/div>\n<\/div>\n\n\n\n<figure class=\"wp-block-image size-full\"><a href=\"https:\/\/play.google.com\/store\/apps\/details?id=com.edunovations.quiz\" target=\"_blank\" rel=\"noopener\"><img decoding=\"async\" width=\"900\" height=\"150\" src=\"https:\/\/edunovations.com\/currentaffairs\/wp-content\/uploads\/2023\/03\/Banner-current-affairs-2-1.jpg\" alt=\"Download this App for Daily Current Affairs MCQ&#039;s\" class=\"wp-image-247\" title=\"\" srcset=\"https:\/\/edunovations.com\/currentaffairs\/wp-content\/uploads\/2023\/03\/Banner-current-affairs-2-1.jpg 900w, 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This slowdown marks a significant decline compared to the previous months, which had shown higher growth rates. 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