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IIP dips 2.1% in November 2013 dragged by consumer durables

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Figure for October 2013 revised slightly upwards to (-) 1.6% from (-) 1.8% earlier

India's Index of industrial production (IIP) declined 2.1% in November 2013, recording decline for consecutive month after 1.6% dip in the previous month October 2013. The sharp decline in the output of manufacturing sector at 3.5% mainly led to decline in IIP in November 2013. Meanwhile, the marginal 1% growth in mining sector output and healthy 6.3% growth in the electricity generation restricted further dip in industrial production during November 2013.

As per the used based classification, the output of basic goods rose 0.7% in November 2013, with the increase in mining output and healthy growth in electricity generation. The output of intermediate goods and capital goods rose 3.3% and 0.3%, respectively. But, the output of consumer goods declined 8.69% in October 2013, as the output of consumer durable goods plunged 21.5% recording fall for twelfth straight month. The output of consumer non-durable goods moved up 2.5% in November 2013.

The IIP growth for the month of October 2013 has been revised upwards to (-) 1.6% from (-) 1.8% reported earlier, while the growth for the month of August 2013 has been retained unchanged at 0.4% from 2.8% reported at first revision. However, the final growth rate for August 2013 is lower than the provisional level of 0.6%.

In terms of industries, ten (10) out of the twenty-two (22) industry groups in the manufacturing sector have shown positive growth during the month of November 2013, as compared to the corresponding month of the previous year.

The industry group 'Radio, TV and communication equipment & apparatus' has shown the highest negative growth of (-) 42.2%, followed by (-) 27.5% in 'Office, accounting & computing machinery' and (-) 19.5% in 'Furniture; manufacturing'.

On the other hand, the industry group 'Chemicals and chemical products' has shown a positive growth of 18.6% followed by 16.1% in 'Electrical machinery & apparatus' and 14.5% in 'Wearing apparel; dressing and dyeing of fur'.

Some of the important items showing high negative growth during the current month over the same month in previous year include 'HR sheets' (-) 63.2%, 'molasses' (-) 61.4%, 'sugar (including sugar cubes)' (-) 56.3%, 'boilers' (-) 47.0%, 'aluminium conductor' (-) 45.4%, 'telephone instruments (incl. mobile phones & accessories)' (-) 44.6%, 'earth moving machinery' (-) 44.1%, 'gems and jewellery' (-) 40.4%, 'computers' (-) 35.3%, 'sugar machinery' (-) 31.6% and 'polyester chips' (-) 28.0%.

Some of the other important items showing high positive growth are: 'vitamins' (302.3%), 'ship building & repairs' (134.8%), 'wood furniture' (63.3%), 'cable, rubber insulated' (61.2%), 'antibiotics & its preparations' (58.1%), 'ayurvedic medicaments' (52.1%), 'air conditioners (room)' (31.5%), 'plastic machinery (incl. moulding machinery)' (28.4%) and 'tractors' (26.8%).

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First Published: Fri, January 10 2014. 18:04 IST