Manufacturing, mining pull IIP growth to nine-month low in May
12 Jul 2011
A decline in the manufacturing and mining sectors pulled down industrial growth to its slowest in nine months at 5.6 per cent in May this year from 8.5 per cent in the same month last year.
Factory output as measured in terms of the index of industrial production (IIP) for April has also been revised downward to 5.7 per cent from the earlier estimate of 6.3 per cent, as per the new series with a base year of 2004-05.
According to data from ministry of statistics and programme implementation released today, industrial growth in April-May this year averaged 5.7 per cent, compared to 10.8 per cent in April-May last year.
The manufacturing sector, which has an over 75-per cent weightage in the index, grew by just 5.6 per cent in May 2011, down from 8.9 per cent in the May 2010.
The mining sector grew by just 1.4 per cent in May 2011, as against 7.9 per cent in the same month last year.
Capital goods, which suffered a poor offtake grew by just 5.9 per cent, compared to 15.8 per cent in May 2010.
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