Industrial output growth slows to a 20-month low of 0.1% in Feb
New Delhi, Apr 13 (KNN) Industrial output growth slowed to a 20-month low of 0.1% in February, mainly due to contraction in the manufacturing sector, according to Ministry of Statistics and Programme Implementation official data.
Factory output, as measured in terms of the Index of Industrial Production (IIP), had grown by 6.9% in February 2018, according to data released by the Central Statistics Office (CSO).
During April-February 2018-19, industrial output grew at 4% as against 4.3 % in the same period of the previous fiscal.
The previous low in IIP growth was recorded in June 2017, when factory output contracted 0.3%.
IIP growth for November 2018 was revised downwards to 0.2% from 0.3% released earlier.
Capital goods output declined by 8.8% in the month under review as against 16.6% growth in February 2018.
Power sector growth slowed to 1.2% in February as compared to 4.5% a year ago. Mining sector output grew 2% in the month compared to contraction of 0.4% earlier.
The manufacturing sector, which constitutes 77.63% of the IIP, contracted by 0.3% in February as compared to 8.4 % expansion a year ago.
In terms of industries, 10 out of 23 industry groups in the manufacturing sector have shown positive growth during February 2019 as compared to the corresponding month of the previous year.
As peruse-based classification, the growth rates in February 2019 over February 2018 are 1.2% in primary goods, (-) 4.9% in intermediate goods and 2.4% in infrastructure/construction goods.
Consumer durables and consumer non-durables recorded growth of 1.2% and 4.3% respectively.