Industry remains in distress; IIP down 0.6% in December
Updated: Feb 13, 2014 03:39:33pm
New Delhi, Feb 13 (KNN) With eight major industry groups including gems and jewellery, capital equipment, capital goods and items of interest to MSMEs staying in the negative, the industrial production for December decelerated by 0.6 per cent reflecting the continuing distress in the manufacturing sector.
“The General Index for the month of December 2013 stands at 178.3, which is 0.6 per cent lower as compared to the level in the month of December 2012. The cumulative growth for the period April-December 2013-14 over the corresponding period of the previous year stands at (-) 0.1 per cent,” according to the Ministry of Statistics and Programme Implementation.
The Indices of Industrial Production (IIP) for the Mining, Manufacturing and Electricity sectors for the month of December 2013 stand at 133.0, 188.0 and 169.4 respectively, with the corresponding growth rates of 0.4 per cent, (-) 1.6 per cent and 7.5 per cent as compared to December 2012.
According to an official release, “In terms of industries, eight (8) out of the twenty two (22) industry groups in the manufacturing sector have shown negative growth during the month of December 2013 as compared to the corresponding month of the previous year.
“…the industry group ‘Wearing apparel; dressing and dyeing of fur’ has shown a positive growth of 19.7 per cent followed by 13.5 per cent in ‘Chemicals and chemical products’ and 12.9 per cent in ‘Electrical machinery and apparatus,” the release said.
As per Use-based classification, the growth rates in December 2013 over December 2012 are 2.4 per cent in Basic goods, (-) 3.0 per cent in Capital goods and 4.5 per cent in Intermediate goods. The Consumer durables and Consumer non-durables have recorded growth of (-) 16.2 per cent and 1.6 per cent respectively, with the overall growth in Consumer goods being (-) 5.3 per cent.
Some of the important items showing high negative growth during the current month over the same month in previous year include Polythene Bags (-) 58.4 per cent, Telephone Instruments (including Mobile Phones and Accessories) (-) 39.0 per cent, Gems and Jewellery (-) 33.3 per cent, Wood Furniture (-) 25.7 per cent.
However, the retail inflation numbers for January 2014 eased to a two-year low of 8.79 per cent as against 9.87 per cent in the previous month.
The sharp sequential drop in consumer price index-based inflation was largely due to softening in vegetable prices, and a marginal decline in oil and fats and sugar prices.
There was moderation in retail inflation in rural areas as well as urban areas for the month under review.
While retail inflation for urban areas declined to 8.09 per cent (9.11 per cent), it came down for rural areas to 9.43 per cent (10.49 per cent). (KNN/SD)
“The General Index for the month of December 2013 stands at 178.3, which is 0.6 per cent lower as compared to the level in the month of December 2012. The cumulative growth for the period April-December 2013-14 over the corresponding period of the previous year stands at (-) 0.1 per cent,” according to the Ministry of Statistics and Programme Implementation.
The Indices of Industrial Production (IIP) for the Mining, Manufacturing and Electricity sectors for the month of December 2013 stand at 133.0, 188.0 and 169.4 respectively, with the corresponding growth rates of 0.4 per cent, (-) 1.6 per cent and 7.5 per cent as compared to December 2012.
According to an official release, “In terms of industries, eight (8) out of the twenty two (22) industry groups in the manufacturing sector have shown negative growth during the month of December 2013 as compared to the corresponding month of the previous year.
“…the industry group ‘Wearing apparel; dressing and dyeing of fur’ has shown a positive growth of 19.7 per cent followed by 13.5 per cent in ‘Chemicals and chemical products’ and 12.9 per cent in ‘Electrical machinery and apparatus,” the release said.
As per Use-based classification, the growth rates in December 2013 over December 2012 are 2.4 per cent in Basic goods, (-) 3.0 per cent in Capital goods and 4.5 per cent in Intermediate goods. The Consumer durables and Consumer non-durables have recorded growth of (-) 16.2 per cent and 1.6 per cent respectively, with the overall growth in Consumer goods being (-) 5.3 per cent.
Some of the important items showing high negative growth during the current month over the same month in previous year include Polythene Bags (-) 58.4 per cent, Telephone Instruments (including Mobile Phones and Accessories) (-) 39.0 per cent, Gems and Jewellery (-) 33.3 per cent, Wood Furniture (-) 25.7 per cent.
However, the retail inflation numbers for January 2014 eased to a two-year low of 8.79 per cent as against 9.87 per cent in the previous month.
The sharp sequential drop in consumer price index-based inflation was largely due to softening in vegetable prices, and a marginal decline in oil and fats and sugar prices.
There was moderation in retail inflation in rural areas as well as urban areas for the month under review.
While retail inflation for urban areas declined to 8.09 per cent (9.11 per cent), it came down for rural areas to 9.43 per cent (10.49 per cent). (KNN/SD)
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