India’s industrial production grows 2.4 per cent in May

Industrial production in the country gained pace in May, growing at 2.4 per cent year-on-year against a 0.9 per cent decline (revised estimate) in April, official data released today showed.

The positive trend was due to a 2.5 per cent growth in manufacturing output in May, against a slow 0.1 per cent growth in April.

However, output in the mining and capital goods sectors continued to be weak with declines of 0.9 per cent and 7.7 per cent, respectively, in May.

The index of industrial production (IIP) had recorded a growth of 6.2 per cent growth in May last year.

The general index of industrial production for May 2012 was estimated at 170.2, up 2.4 per cent from the level in May 2011. Cumulative growth for April-May 2012-13 stood at 0.8 per cent year-on-year, according to quick estimates of IIP released by the Central Statistical Office.

Production indices for the mining, manufacturing and electricity sectors stood at 129.7, 178.9 and 162.3, respectively, with the corresponding growth rates of  (-) 0.9 per cent, 2.5 per cent and 5.9 per cent, compared to May 2011 levels. Cumulatively, the three sectors showed growth rates of (-) 2.0 per cent, 0.6 per cent and 5.2 per cent, respectively, during April-May 2012-13.