IIP for October stands at 2.2 percent

The Index of Industrial Production (IIP) for October 2017 stood at 2.2 percent higher as compared to the level in comparison to October 2016.

As per the data received for the month of October from the Central Statistics Office of the Ministry of Statistics and Programme Implementation, the cumulative growth for the period April-October 2017 over the corresponding period of the previous year stood at 2.5 percent.

IIP for the mining, manufacturing and electricity sectors for October stood at 101.2, 124.3 and 149.8 respectively, with the corresponding growth rates of 0.2 percent, 2.5 percent and 3.2 percent as compared to last year. Also, the cumulative growth in these three sectors during April-October 2017 over the corresponding period of 2016 was noted as 3.4 percent, 2.1 percent and 5.3 percent respectively.

In terms of industries, ten out of the twenty three industry groups (as per two-digit NIC-2008) in the manufacturing sector have shown positive growth during the month of October 2017 as compared to the corresponding month of the previous year. The industry group 'manufacture of pharmaceuticals, medicinal chemical and botanical products' has shown the highest positive growth of 23.0 percent followed by 12.8 percent in 'manufacture of motor vehicles, trailers and semi-trailers' and 9.7 percent in 'Manufacture of computer, electronic and optical products'.

On the other hand, the industry group 'other manufacturing' has shown the highest negative growth of (-) 36.4 percent followed by (-) 20.9 percent in 'manufacture of tobacco products' and (-) 16.1 percent in 'manufacture of rubber and plastic products'.

As per use-based classification, the growth rates in October 2017 over October 2016 are 2.5 percent in primary goods, 6.8 percent in capital goods, 0.2 percent in intermediate goods and 5.2 percent in infrastructure/ construction goods. The consumer durables and consumer non-durables have recorded growth of (-) 6.9 percent and 7.7 percent respectively.

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