India's industrial output growth contracts 3.2% in Nov

"The General Index for the month of November 2015 stands at 166.6, which is 3.2 percent lower as compared to the level in the month of November 2014," read a government statement issued on Tuesday.

"The cumulative growth for the period April-November 2015 over the corresponding period of the previous year stands at 3.9 percent," it said.

The Indices of Industrial Production for the Mining, Manufacturing and Electricity sectors for the month of November 2015 stand at 131.5, 171.9 and 175.6 respectively, with the corresponding growth rates of 2.3 percent, (-) 4.4 percent and 0.7 percent as compared to November 2014 (Statement I). The cumulative growth in three sectors during April-November 2015 over the corresponding period of 2014 has been 2.1 percent, 3.9 percent and 4.6 percent respectively.

In terms of industries, seventeen (17) out of the twenty two (22) industry groups (as per 2-digit NIC-2004) in the manufacturing sec tor have shown negative growth during the month of November 2015 as compared to the corresponding month of the previous year (St atement II). The industry group ‘Electrical machinery & apparatus n.e.c.’ has shown the highest negative growth of (-) 46.5 percent, followed by (-) 13.8 percent in ‘Luggage, handbags, saddlery, harness & footwear; tanning and dressing of leather products’ and (-) 13.1 percent in ‘Wood and products of wood & cork except furniture; articles of straw & plating materials’. On the other hand, the industry group ‘Furniture; manufacturing n.e.c.’ has shown the highest positive growth of 102.1 percent, followed by 11.1 percent in ‘Office, accounting & computing machinery’ and 9.7 percent in ‘Radio, TV and communication equipment & apparatus’.

As per Use-based classification, the growth rates in November 2015 over November 2014 are (-) 0.7 percent in Basic goods, (-) 24.4 percent in Capital goods and (-) 0.7 percent in Intermediate goods (Statement III).  The Consumer durables and Consumer non-durables have recorded growth of 12.5 percent and (-) 4.7 percent respectively, with the overall growth in Consumer goods being 1.3 percent.

Some important items showing high negative growth during the current month over the same month in previous year include ‘Cable, Rubber Insulated’  [(-) 87.1%], ‘Heat Exchangers’ [(-) 68.2%], ‘Polythene Bags including HDPE & LDPE Bags’ [(-) 58.0%], ‘Tractors (complete)’ [(-) 42.3%], ‘Conductor, Aluminium’ [(-) 36.8%], ‘Rice’ [(-) 27.1%] and ‘Three-Wheelers (including passenger & goods carrier)’ [(-) 23.7%].

Some other important items that have registered high positive growth include ‘Gems and Jewellery’ (253.7%), ‘Sugar Machinery’ (78.0%), ‘Lubricating oil’ (66.5%), ‘Wood Furniture’ (46.9%), ‘PVC Pipes and Tubes’ (31.4%), ‘Transformers (small)’ (30.2%), ‘Polypropylene (including co-polymer)’ (30.1%) and ‘Sugar’ (25.7%).