India’s industrial production grew at a slower pace of 3.1% in May
12 Jul 2019
1
Industrial production in the country based on the index of industrial production (IIP) expanded at a slower pace of 3.1 per cent in May 2019 compared to 3.4 per cent in April and 3.8 per cent in may last year, official data released today showed.
Industrial production during the April-May 2019 period grew 3.7 per cent over the corresponding period of the previous year, as per quick estimates of IIP for May 2019.
Production in the mining, manufacturing and electricity sectors rose 3.2 per cent, 2.5 per cent and 7.4 per cent, respectively while cumulative growth in these three sectors during April-May 2019 stood at 4.1 per cent, 3.2 per cent and 6.7 per cent, respectively.
Twelve out of the 23 industry groups in the manufacturing sector recorded growth during May 2019. The industry group ‘manufacture of wood and products of wood and cork, except furniture; manufacture of articles of straw and plaiting materials’ has shown the highest growth of 24.8 per cent, followed by ‘manufacture of food products’ (15.9 per cent) and ‘manufacture of computer, electronic and optical products’ (9.4 per cent).
On the other hand, the industry group ‘manufacture of paper and paper products’ has shown the highest negative growth of (-) 12.2 per cent, followed by ‘manufacture of furniture’ (-9.9 per cent) and ‘manufacture of fabricated metal products, except machinery and equipment’ (-8.7 per cent).
Primary goods production recorded growth 2.5 per cent in May 2019 while capital goods production grew 0.8 per cent, intermediate goods production by 0.6 per cent and infrastructure/construction goods production by 5.5 per cent during the month.
Production of consumer durables and consumer non-durables recorded growth of (-) 0.1 per cent and 7.7 per cent, respectively.
.jpg "RBI keeps repo rate unchanged as focus remains on inflation")
.jpg "Indian Oil, Panasonic team up for lithium-ion cell production in India")
