Industrial production fall extends to January as well

Industrial production registered negative growth for a second consecutive month, falling 0.5 per cent in January 2009 against a 0.63 per cent (revised) fall in December 2008, according to quick estimates of the index of industrial production (IIP) provided by the central Statistical Organisation.

The general index of industrial production (base = 1993-94) stood at 280.4, which is 0.5 per cent lower as compared to the level in January 2008, a government release showed.

Cumulative growth for the period April-January 2008-09 stood at 3.0 per cent over the corresponding period of the previous year.

The indices for the mining, manufacturing and electricity sectors for January 2009 stood at 185.9, 299.6, and 227.9 respectively, with the corresponding growth rates of (-)0.4 per cent, (-)0.8 per cent and 1.8 per cent as compared to January 2008.

The cumulative growth during April-January 2008-09 over the corresponding period of 2007-08 in the three sectors have been 2.7 per cent, 3.0 per cent and 2.6 per cent respectively, which moved the overall growth in the general index to 3.0 per cent.

In terms of industries, as many as five out of the seventeen industry groups  have shown positive growth during January 2009 as compared to the corresponding month of the previous year.

The industry group 'machinery and equipment other than transport equipment' have shown the highest growth of 17.5 per cent, followed by 10.3 per cent in 'other manufacturing industries' and 5.3 per cent in 'beverages, tobacco and related products'.

On the other hand, the industry group 'food products' has shown a negative growth of -16.1 per cent followed by 15.2 per cent in 'wood and wood products', 'furniture and fixtures' and 13.4 per cent in 'transport equipment and parts'.

As per use-based classification, basic goods registered a negative growth of (-)1.0 per cent while capital goods grew at 15.4 per cent and intermediate goods at (-)9.2 per cent in January 2009 over January 2008.  The consumer durables and consumer non-durable sectors recorded growth rates of 2.5 per cent and 0.7 per cent, respectively, with the overall growth in consumer goods being 1.1 per cent.

The indices for December 2008 have undergone the first revision and those for October 2008 have undergone the second (final) revision in the light of the updated data received from the source agencies, the release added.