labels: Economy - general
Industrial growth moves up to 8.6 per cent in February news
11 April 2008

Mumbai: Industrial production in the country grew at a four-month high of 8.6 per cent in February, against 11 per cent recorded in February last year. This, however, compares well with the dismal figures for the previous month and belies fears of a major slowdown.

The higher growth rate was aided by record investment in power plants and factories that boosted demand for electricity and cement.

Production at factories, utilities and mines rose 8.6 per cent from the year earlier period and way above a revised 5.8 per cent in January, data released by the Central Statistical Organisation showed.
 
Industrial growth, as measured by the Index of Industrial Production (IIP), was much higher than the earlier projected 5.3 per cent in January and even reversed the negative output growth witnessed in consumer durables goods.

For the first 11 months of last fiscal, industrial growth stood at 8.7 per cent against 11.2 per cent a year ago, according to figures released by the CSO.
 
Electricity generation grew by 9.8 per cent in February this year from a low of 3.3 per cent a year ago. Manufacturing, which has a weight of around 80 per cent in the IIP, grew at 8.6 per cent against 12 per cent in February 2007 and 5.9 per cent in January this year.
 
Consumer durable goods sector, which showed a negative 3.1 per cent growth in January, rose by 3.3 per cent in February against 1.8 per cent a year-ago.

Mining output growth remained at 7.5 per cent in February this year.

For April-February 2007-08, electricity generation was 6.6 per cent against 7.2 per cent in the corresponding period of last year.

Manufacturing sector grew 9.1 per cent against 12.2 per cent, but mining output expanded at higher pace of 5.1 per cent against 5 per cent.


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Industrial growth moves up to 8.6 per cent in February