Poor manufacturing show pulls down IIP growth to 3.8% in September | business-news

0
16


Industrial production grew at a slower pace of 3.8 per cent in September, mainly due to subdued performance of the manufacturing sector coupled with contraction in output of consumer durables.

Factory output measured in terms of the Index of Industrial Production (IIP) rose 5 per cent in September 2016 and 4.5 per cent in August this year, data released by the Central Statistics Office (CSO) showed on Tuesday.

According to the data, IIP grew at a meagre 2.5 per cent in April-September this fiscal compared to 5.8 per cent in the first half of 2016-17.

In September, growth in the manufacturing sector, which accounts for 77.63 per cent of the index, slowed to 3.4 per cent, from 5.8 per cent a year earlier. During April- September, manufacturing grew at 1.9 per cent, down from 6.1 per cent in the same period last fiscal.

Consumer durable goods output contracted by 4.8 per cent in September as against a growth of 10.3 per cent in the previous year. During the first half of this fiscal, the output of these goods declined by 1.5 per cent as against a growth of 6.9 per cent last year.

Electricity generation growth slipped to 3.4 per cent in September compared to 5.1 per cent a year before. However, mining recorded a growth of 7.9 per cent in the month under review as against a contraction of 1.2 per cent a year ago.

According to the use-based classification, growth rates in September 2017 came in at 6.6 per cent for primary goods, 7.4 per cent for capital goods, 1.9 per cent for intermediate goods and 0.5 per cent for infrastructure/construction goods compared to the previous year.

The consumer non-durable segment has recorded a growth of 10 per cent.

In terms of industries, 11 out of 23 industry groups in the manufacturing sector have shown positive growth in September 2017 as against the previous year.



Source link

Comments

comments