Thursday, February 27, 2020

India’s industrial output slipped by 0.3% in December

By IANS Updated: Feb 12, 2020 8:56 pm

New Delhi, Feb. 12 (IANS): A decline in manufacturing activity contracted India’s December industrial output by 0.3 per cent from a rise of 1.82 per cent in November and 2.5 per cent during the corresponding period of the previous year.

“The ‘Quick Estimates of Index of Industrial Production’ with base 2011-12 for the month of December 2019 stands at 133.5, which is 0.3 per cent lower as compared to the level in the month of December 2018,” the Ministry of Statistics & Programme Implementation said.

As per the data, the output rate of the manufacturing sector contracted by minus 1.2 per cent in December from a YoY rise of 2.9 per cent.

According to the data, mining activity grew by 5.4 per cent from a YoY decline of (-) 1 per cent and the sub-index of electricity generation was lower by (-)1 per cent from a rise of 4.5 per cent.

Among the six use-based classification groups, the output of primary goods, which has the highest weightage of 34.04, rose by 2.2 per cent. The output of intermediate goods, which has the second-highest weightage, zoomed 12.5 per cent.

While consumer non-durables output fell by (-) 3.7 per cent, similarly, the consumer durables declined (-)6.7 per cent.

The output of infrastructure or construction goods decreased by (-) 2.6 per cent, similarly, capital goods’ production receded by (-)18.2 per cent.

In terms of industries, 16 out of the 23 industry groups in the manufacturing sector showed negative growth during the month under review as compared to the corresponding period of the previous year.

“The industry group ‘manufacture of computer, electronic and optical products’ has shown the highest negative growth of (-) 24.9 per cent followed by (-) 20.3 per cent in ‘manufacture of machinery and equipment n.e.c.’ and (-) 15.5 per cent in ‘printing and reproduction of recorded media’,” the Ministry said.

“On the other hand, the industry group ‘manufacture of basic metals’ has shown the highest positive growth of 14.2 per cent followed by 13.2 per cent in ‘Manufacture of wood and products of wood and cork, except furniture; manufacture of articles of straw and plaiting materials’ and 5.9 per cent in ‘manufacture of leather and related products’.”

By IANS Updated: Feb 12, 2020 8:56:30 pm