Industrial output growth drops to 0.5% in November
New Delhi, Jan 12 (KNN) On account of contraction in the manufacturing sector, particularly consumer and capital goods, industrial output growth dropped to 0.5% in November.
Factory output, as measured in terms of the Index of Industrial Production (IIP), had grown by 8.5% in November 2017, as per data released by the Central Statistics Office (CSO).
As per use-based classification, the growth rates in November 2018 over November 2017 are 3.2 percent in Primary goods, (-) 3.4 percent in Capital goods, (-) 4.5 percent in Intermediate goods and 5.0 percent in Infrastructure/ Construction Goods (Statement III).
The consumer durables and consumer non-durables have recorded growth of (-) 0.9 percent and (-) 0.6 percent respectively.
In the April-November period, industrial output grew 5%, compared to 3.2% in the same period of the previous fiscal.
The manufacturing sector, which constitutes 77.63% of the index, recorded a contraction of 0.4% in November, against a growth of 10.4% a year ago.
The mining sector posted 2.7% growth in the month, against 1.4% in November 2017. The power sector output also grew by 5.1% from 3.9% a year ago.
The industry group ‘Manufacture of wearing apparel’ has shown the highest positive growth of 22.1 percent followed by 7.6 percent in ‘Manufacture of wood and products of wood and cork, except furniture; manufacture of articles of straw and plaiting materials’ and 7.4 percent in ‘Manufacture of other transport equipment’.
On the other hand, the industry group ‘Manufacture of fabricated metal products, except machinery and equipment’ has shown the highest negative growth of (-) 13.4 percent followed by (-) 9.6 percent in ‘Manufacture of electrical equipment’ and (-) 7.3 in ‘Other manufacturing’.