labels: economy - general
Industrial output up news
13 August 1999

The country is on a road to industrial recovery for sure. The Central Statistical Organisation has just released the quick estimates of the index of industrial production, which shows industrial growth rate for the first quarter of fiscal 1999-2000 was 5.6 per cent compared to 4.5 per cent in the first quarter of 1998-99.

In June 1999, industrial output rose 5.5 per cent, taking the index to 144.6. This compares with a figure of 4.8 per cent in June 1998. May 1999 registered a 7.2 per cent growth rate, against 3.7 per cent in May 1998.

The manufacturing, especially consumer goods, and electricity sectors have registered steady growth, while there was a slight slowing down in the mining sector. Manufacturing and electricity grew 6.5 per cent and 4.1 per cent respectively in June, while mining sector expanded 1.5 per cent. Growth of the manufacturing and electricity sectors in the April-June 1999 quarter was 6.6 per cent and 4.1 per cent respectively. The electricity sector had registered a growth of 10.2 per cent in the same period last year.

On a use-based classification, growth in June 1999 was 9.9 per cent in intermediate goods, 4.5 per cent in capital goods and 3.7 per cent in basic goods, compared to June 1998. The consumer durable and consumer non-durable segments grew 11.1 per cent and 1.7 per cent respectively, while the consumer goods sector as a whole grew 3.6 per cent. At 3.7 per cent, the growth rate of consumer goods in the quarter April-June 1999 was marginally higher than in the previous year. Consumer durables grew 15 per cent.

The index for capital goods sector grew 4.5 per cent in June and 10.3 per cent in the quarter. Basic goods, which account for over one-third of the total weight of index, had a 3.7 per cent growth during the month and 2.8 per cent in the first quarter.

The CSO says that 10 of the 17 two-digit (broader) industry groups have shown positive growth during June 1999. Machinery and equipment, other than transport equipment, recorded the highest growth of 21.8 per cent followed by non-metallic mineral products with 16.7 per cent, and wool, silk and man-made fibre textiles with 16.4 per cent.

 


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Industrial output up