India’s industrial production contracts 1.9% in October
09 Dec 2016
Industrial production in the country based on the general index of industrial production (IIP) declined by 1.9 per cent year-on-year in October 2016 reflecting negative growth in the mining and manufacturing sectors.
Cumulative growth of industrial production in the April-October 2016 period stood at (-) 0.3 per cent compared to the corresponding period of the previous year.
Growth of production in the mining, manufacturing and electricity sectors in October 2016 stood at (-) 1.1 per cent, (-) 2.4 per cent and 1.1 per cent, respectively, as compared to October 2015 levels. The sectors have shown cumulative growth rates of (-) 0.2 per cent, (-) 1.0 per cent and 4.6 per cent, respectively in April-October 2016.
Twelve out of the 22 industry groups in the manufacturing sector have shown negative growth during October 2016 compared to the corresponding month of the previous year.
The industry group 'electrical machinery and apparatus' has shown the highest negative growth of (-) 58.3 per cent, followed by 'office, accounting and computing machinery' (-) 29.5 per cent and 'wood and products of wood and cork except furniture; articles of straw and plating materials' (-) 12.3 per cent.
On the other hand, 'coke, refined petroleum products and nuclear fuel' has shown the highest positive growth of 18.4 per cent, followed by 'motor vehicles, trailers and semi-trailers' 7.9 per cent and 'basic metals' 7.7 per cent,
Basic goods production increased by 4.1 per cent while capital goods production declined by 25.9 per cent and production of intermediate goods increased by 2.9 per cent in October 2016.
Production of consumer durables and consumer non-durables have recorded growth rates of 0.2 per cent and (-) 3.0 per cent, respectively, with the overall growth in consumer goods being (-) 1.6 per cent.
