In­dus­trial growth falls to 17month low of 0.5% in Novem­ber

The Northlines - - BUSINESS -

India’s In­dus­trial out­put growth dropped to a 17month low of 0.5 per cent in Novem­ber on ac­count of con­trac­tion in man­u­fac­tur­ing sec­tor, par­tic­u­larly con­sumer and cap­i­tal goods.

Fac­tory out­put as mea­sured in terms of the In­dex of In­dus­trial Pro­duc­tion (IIP) had grown by 8.5 per cent in Novem­ber 2017, as per data re­leased by the Cen­tral Sta­tis­tics Of­fice (CSO) on Fri­day.

The pre­vi­ous low was in June 2017, when IIP growth con­tracted by 0.3 per cent. The growth for Oc­to­ber 2018 was re­vised up­wards to 8.4 per cent from 8.1 per cent. Dur­ing the April-novem­ber pe­riod, in­dus­trial out­put grew 5 per cent as com­pared to 3.2 per cent in the same pe­riod of the pre­vi­ous fis­cal.

The man­u­fac­tur­ing sec­tor, which con­sti­tutes 77.63 per cent of the in­dex, recorded a con­trac­tion of 0.4 per cent in Novem­ber as against a growth of 10.4 per cent a year ago.

The min­ing sec­tor posted 2.7 per cent growth dur­ing the month as against 1.4 per cent in Novem­ber 2017. Power sec­tor out­put also grew by 5.1 per cent from 3.9 per cent a year ago. Cap­i­tal goods out­put de­clined by 3.4 per cent, com­pared to 3.7 per cent growth a year ago. Con­sumer durables out­put also dipped by 0.9 per cent as against a growth of 3.1 per cent a year ear­lier. Con­sumer non-durable goods also saw a con­trac­tion of 0.6 per cent as com­pared to 23.7 per cent growth a year ago. In terms of in­dus­tries, 10 out of 23 in­dus­try groups in the man­u­fac­tur­ing sec­tor showed pos­i­tive growth dur­ing Novem­ber 2018. As per use-based clas­si­fi­ca­tion, the growth rates in Novem­ber 2018 over Novem­ber 2017 are 3.2 per cent in pri­mary goods, (-) 4.5 per cent in in­ter­me­di­ate goods and 5 per cent in in­fra­struc­ture/con­struc­tion goods.

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