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Industrial output slips to a dismal 19-month low of 0.5 pc in November

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New Delhi [India] | January 11, 2019 8:41:33 PM IST
On account of shrink in the manufacturing sector, particularly consumer and capital goods, India's industrial output growth in November 2018 slipped to 0.5 per cent, recording a 19-month low

The factory output, which is measured in terms of Index of Industrial Production (IIP, had registered the growth of 8.5 per cent in the last corresponding period (November 2017).

According to the data published by the Central Statistics Office (CSO) under Union Ministry of Statistics and Programme Implementation on Friday, IIP stood at 126.4, which is only 0.5 per cent higher as compared to the level in the month of November 2017.

The cumulative growth for the period April-November 2018 over the corresponding period of the previous year stood at 5 per cent.

The IIP for the mining, manufacturing and electricity sectors for the month of November 2018 stood at 110.6, 127.2 and 147.2, respectively, with corresponding growth rates of 2.7 per cent, (-) 0.4 per cent and 5.1 per cent as compared to November 2017.

In terms of industries, 10 out of the 23 industry groups in the manufacturing sector showed positive growth during the month of November as compared to the corresponding month of the previous year.

The industry group 'manufacture of wearing apparel' showed the highest positive growth of 22.1 per cent, followed by 7.6 per cent in 'manufacture of wood and products of wood and cork, except furniture; manufacture of articles of straw and plaiting materials' and 7.4 per cent in 'Manufacture of other transport equipment'.

On the other hand, the industry group 'manufacture of fabricated metal products, except machinery and equipment' showed the highest negative growth of (-) 13.4 per cent, followed by (-) 9.6 per cent in 'Manufacture of electrical equipment' and (-) 7.3 per cent in 'Other manufacturing'.

Growth rates in November last year compared to the same month in 2017 are 3.2 per cent in primary goods, (-) 3.4 per cent in capital goods, (-) 4.5 per cent in intermediate goods and 5 per cent in infrastructure/ construction goods.

The consumer durables and consumer non-durables recorded growth of (-) 0.9 per cent and (-) 0.6 per cent, respectively. (ANI)

 
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