Industrial production growth accelerates to 3.8% in June

Industrial production in the country grew at a faster rate of 3.8 per cent in June, compared to the 2.7 per cent growth recorded in May 2015, helped by improved show by the manufacturing sector.

The general index of industrial production (IIP) for June 2015 stood at 3.8 per cent compared to the June 2014 level.

Cumulative growth of production for the period April-June 2015-16 over the corresponding period of the previous year now stands at 3.2 per cent.

Production in the mining, manufacturing and electricity sectors recorded growth rates of (-) 0.3 per cent, 4.6 per cent and 1.3 per cent, respectively, compared to June 2014 levels.

For the first three months of the current financial year (April-June 2015-16) the three sectors recorded growth rates of 0.7 per cent, 3.6 per cent and 2.3 per cent, respectively.

Sixteen out of the 22 industry groups in the manufacturing sector have shown positive growth during June 2015 compared to the corresponding month of the previous year.

The industry group 'furniture, manufacturing' has shown the highest positive growth of 83.7 per cent, followed by 'wearing apparel, dressing and dyeing of fur' (27.6 per cent) and 'wood and products of wood and cork except furniture, articles of straw and plating material' (21.0 per cent).

On the other hand, the industry group 'publishing, printing and reproduction of recorded media' has shown the highest negative growth of   (-)11.4 per cent, followed by 'electrical machinery and apparatus ' (-)10.0 per cent and 'radio, TV and communication equipment and apparatus' (-)8.7 per cent.

Basic goods production grew 5.1 per cent in June 2015 while capital goods production declined by (-)3.6 per cent and production of intermediate goods grew 0.8 per cent during the month.