India’s industrial production down 3.8% in October
12 Dec 2019
1
Industrial production in the country, based on the index of industrial production (IIP) declined by 3.8 per cent year-on-year in October, showing signs of a slump in growth, quick estimates released by the ministry of statistics and programme implementation showed.
Industrial production in the country had declined by 4.3 per cent year-on-year in September 2019, extending the negative growth of 1.1 per cent registered in August.
The index of industrial production (IIP) with base 2011-12 for the period April-October 2019 over the corresponding period of the previous year stood at 0.5 per cent.
Production in the mining, manufacturing and electricity sectors for October 2019 showed growth rates of (-) 8.0 per cent, (-) 2.1 per cent and (-) 12.2 per cent, respectively, while the three sectors reported cumulative growth rates of (-) 0.4 per cent, 0.5 per cent and 1.6 per cent, respectively.
Eighteen out of the 23 industry groups in the manufacturing sector have shown negative growth during October 2019 compared to the corresponding month of the previous year. The industry group ‘computer, electronic and optical products’ has shown the highest negative growth of (-) 31.3 per cent, followed by ‘motor vehicles, trailers and semi-trailers’ at (-) 27.9 per cent.
On the other hand, the industry group ‘chemicals and chemical products’ has shown the highest growth of 31.8 per cent, followed by `basic metals’ 9.4 per cent.
Production of primary goods recorded a negative growth of (-) 6 per cent in October 2019, while capital goods production grew (-) 21.9 per cent, intermediate goods at 22.2 per cent and infrastructure/ construction goods at (-) 9.2 per cent. Production of consumer durables and consumer non-durables recorded growth rates of (-) 18.0 per cent and (-) 1.1 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")
