Indian Industrial production figures dip by o.3 pct in December
New Delhi/IBNS: Giving no positive news to the common men, India's industrial output contracted by 0.3 percent in December, officials government data released on Wednesday revealed.
The Quick Estimates of Index of Industrial Production (IIP) with base 2011-12 for the month of December 2019 stands at 133.5, which is 0.3 percent lower as compared to the level in the month of December 2018, read a government statement.
The cumulative growth for the period April-December 2019 over the corresponding period of the previous year stands at 0.5 percent.
The Indices of Industrial Production for the Mining, Manufacturing and Electricity sectors for the month of December 2019 stand at 120.6, 134.2 and 150.2 respectively, with the corresponding growth rates of 5.4 percent, (-) 1.2 percent and (-) 0.1 percent as compared to December 2018.
The cumulative growth in these three sectors during April-December 2019 over the corresponding period of 2018 has been 0.6 percent, 0.5 percent and 0.8 percent respectively.
In terms of industries, sixteen out of the twenty three industry groups (as per 2-digit level of National Industrial Classification-2008) in the manufacturing sector have shown negative growth during the month of December 2019 as compared to the corresponding month of the previous year. The industry group ‘Manufacture of computer, electronic and optical products’ has shown the highest negative growth of (-) 24.9 percent followed by (-) 20.3 percent in ‘Manufacture of machinery and equipment n.e.c.’ and (-) 15.5 percent in ‘Printing and reproduction of recorded media’.
On the other hand, the industry group ‘Manufacture of basic metals’ has shown the highest positive growth of 14.2 percent followed by 13.2 percent in ‘Manufacture of wood and products of wood and cork, except furniture; manufacture of articles of straw and plaiting materials’ and 5.9 percent in ‘Manufacture of leather and related products’.
As per Use-based classification, the growth rates in December 2019 over December 2018 are 2.2 percent in Primary goods, (-) 18.2 percent in Capital goods, 12.5 percent in Intermediate goods and (-) 2.6 percent in Infrastructure/ Construction Goods (Statement III). The Consumer durables and Consumer non-durables have recorded growth of (-) 6.7 percent and (-) 3.7 percent respectively.
Along with the Quick Estimates of IIP for the month of December 2019, the indices for November 2019 have undergone the first revision and those for September 2019 have undergone the final revision in the light of the updated data received from the source agencies.
Statements giving Quick Estimates of the Index of Industrial Production at Sectoral, 2-digit level of National Industrial Classification (NIC-2008) and by Use-based classification for the month of December 2019, along with the growth rates over the corresponding month of the previous year including the cumulative indices are enclosed.