labels: Industry - general
Industrial production recovers with 2.4 per cent growth in November news
12 January 2009

Industrial production in the country rose 2.4 per cent in November 2008 compared to a negative (-0.4 per cent) in the previous month (October 2008) and 4.9 per cent the same month of the previous year.

The general index of industrial production (base 1993-94 = 100) for November 2008 stood at 267.2, up 2.4 per cent from the level in November 2007, according to quick estimates of index of industrial production (IIP) released by the Central Statistical Organisation. 

The cumulative growth for the period April-November 2008-09 stood at 3.9 per cent compared to the corresponding period of the previous year.

The indices of production for the mining, manufacturing and electricity sectors for November 2008 stood at 175.0, 285.7, and 217.5 respectively, with the corresponding growth rates of 0.5 per cent, 2.4 per cent and 3.1 per cent compared to November 2007.

Cumulative growth of production for the three sectors during April-November 2008-09 over the corresponding period of 2007-08 stood at 3.4 per cent, 4.0 per cent and 2.9 per cent respectively, which moved the overall growth in the general index to 3.9 per cent, the release said.

In terms of industries, as many as 10 out of the seventeen 17 industry groups (as per 2-digit NIC-1987) have shown positive growth during November 2008 as compared to the corresponding month of the previous year.

The industry group 'rubber, plastic, petroleum and coal products' has shown the highest growth of 30.7 per cent, followed by 14.5 per cent in 'beverages, tobacco and related products' and 8.7 per cent in 'wood and wood products; furniture and fixtures'. On the other hand, the industry group 'other manufacturing industries' showed a negative growth of 16.9 per cent followed by 13.1 per cent in 'leather and leather & fur products' and 11.4 per cent in 'wool, silk and man-made fibre textiles'.

Sectoral growth rates (as per use-based classification) for `basic goods' production rose 2.3 per cent and capital goods production by a negative 2.3 per cent while Intermediate goods production rose 2.6 per cent in November 2008.

Consumer durables and consumer non-durables have recorded growth of -4.2 per cent and 7.3 per cent respectively, with the overall growth in consumer goods being 4.4 per cent.

The indices for October 2008 has been revised while those for August was revised for a second time in the light of the updated data. Revised indices (first revision) in respect of September 2008 have already been released in December 2008 and these indices shall undergo final (second) revision in February 2009), the release added.


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Industrial production recovers with 2.4 per cent growth in November