Multimedia | Industrial output recovers in January

After declining for two months in a row, factory output in January grows 2.4%

Showing green shoots of recovery, industrial production inched up 2.4% in January mainly due to perk up in manufacturing output and enhanced power generation.

The factory output, as measured by the Index of Industrial Production (IIP) had grown by 1% in January, 2012.

For the April-January period of 2012-13 fiscal, the industrial production growth is at 1%, down from 3.4% in the same period of 2011-12, according to official data released here today.

Meanwhile, the decline in industrial output for December 2012 has been revised slightly upward to 0.5% from a contraction of 0.6% as per provisional estimates released last month.

The manufacturing sector, which constitutes over 75% of the index, grew by 2.7% in January, as against 1.1% in the same month of 2012. 11 out of 22 industrial groups registered a positive growth during January 2013, over its corresponding period in the previous year. Among industrial groups, Electrical machinery and apparatus registered the highest growth (46.7%).

The growth in the output of the key sector remained low at 0.9% in April-January this fiscal, as against 3.7% growth in the same period in 2011-12.

Power generation has increased by 6.4% in January compared to 3.2% growth in January, 2012.

During the April-January period, electricity generation has gone up by 4.7%, compared to a growth of 8.8% in the same period in the last fiscal.

The capital goods sector contracted by 1.8%, against its contraction of 0.9% in December 2012 The electricity sector output grew by 6.4%, against 5.2% in December 2012.

Multimedia | IIP numbers decoded



The Central Statistical Office had estimated the GDP growth rate of India in the financial year 2012-13 at 5%. Many economists expect the growth to accelerate after the Reserve Bank of India (RBI) slashes the interest rate further in its policy review on March 19.


Also See

December | Green shoots still out of sight; factory output shrinks 0.6%

November | After pre-Diwali surge, industrial output shrinks

October | Industrial growth bounces back

September | IIP slides 0.4%


The consumer goods output saw a growth of 2.8% in January, compared to a growth in production by 2.5% in same month last year.

In the April-January period of this fiscal, the growth in the segment was 2.7% as compared to 5.4% in the same period of 2011-12.   

The dip in the output of consumer durables stood at 0.9% in January, as compared to a contraction of 7.5% in the same month of 2012.

The growth in the output of these goods was at 3.2% in April-January period this fiscal, compared to 3.7% in same period in 2011-12.

The consumer non-durables output grew by 5.3% in January, compared to 10.6% in the same month last year. This segment grew by 2.3% in the 10-month period of this fiscal, as against 6.6% last fiscal.   

The intermediate goods production also saw a growth of 2% in January, compared to a decline in output by 2.5% in same month last year.

During the April-January period, this segment recorded a growth of 1.7%, compared to a contraction of 0.8% in the first 10 months of last fiscal.

 

% growth over corresponding period of previous year	Jan-13	Dec-12	#####	Oct-12	Sep-12	Aug-12	Jul-12	Jan-12	Apr-Jan 2012-13
IIP	2.4	-0.5	-0.8	8.3	-0.7	2.0	-0.1	1.0	1.0
Manufacturing	2.7	-0.7	-0.6	9.8	-1.6	2.4	0.0	1.1	0.9
Mining	-2.9	-3.4	-5.5	0.0	2.2	-0.3	-3.5	-2.1	-1.9
Electricity	6.4	5.2	2.4	5.5	3.9	1.9	2.8	3.2	4.7
Capital Goods	-1.8	-0.6	-8.5	7.5	-13.3	-4.4	-5.8	-2.7	-9.3
Basic Goods	3.4	1.8	1.5	4.1	2.7	3.0	1.0	1.9	2.8
Intermediate Goods	2	0.7	-1.6	9.3	1.7	2.7	0.1	-2.5	1.7
Consumer Goods	2.8	-3.6	-0.3	13.7	0.0	3.6	0.7	2.5	2.7