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| Manufacturing sector showing signs of recovery: CII |
| Press Trust of India / New Delhi May 10, 2009, 15:46 IST |
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The manufacturing sector is showing signs of recovery with key segments such as fertiliser, steel and two-wheelers returning to moderate growth from negative trends between the third and fourth quarter of 2008-09, according to a CII-ASCON survey.
Petrochemical products like LDPE and HDPE, pig iron are also among the sectors which saw a trend reversal going into a positive territory between the third and last quarter of the last fiscal, the survey said.
Vanaspati moved from moderate to high growth. In the entire fiscal 2008-09, about one-fourth of the 80 sectors covered by the survey showed high growth.
But it was only about 16 per cent of the sector which showed high growth in the previous two quarters.
"There are some green shoots from a few sectors that have demonstrated a marginal pickup during the second half of 2008-09 when compared to the first half," CII Director General Chandrajit Banerjee said.
Sectors reporting high growth are asbestos, switch gears, power cables, capacitors and industrial gases, the CII-Ascon survey said.
In February, industrial production contracted by 1.2 per cent compared to 9.5 per cent recorded a year-ago.
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