IIP records overall decrease in December 2016

The estimates of Index of Industrial Production (IIP) with base 2004-05 for the month of December 2016, released by the Central Statistics Office of the Ministry of Statistics and Programme Implementation has revealed that the general index for the month of December 2016 stands at 183.5, which is 0.4 percent lower as compared to the level in the month of December 2015.

IIP is compiled using data received from 15 source agencies, some of them being Department of Industrial Policy and Promotion (DIPP), Central Electricity Authority, Ministry of Steel, Ministry of Petroleum and Natural Gas and the Railway Board.

The Indices of Industrial Production for the Mining, Manufacturing and Electricity sectors for the month of December 2016 stand at 144.5, 189.3 and 194.7 respectively, with the corresponding growth rates of 5.2 percent, (-) 2.0 percent and 6.3 percent as compared to December 2015. The cumulative growth in these three sectors during April-December 2016 over the corresponding period of 2015 has been 0.9 percent, (-) 0.5 percent and 5.1 percent respectively.

In terms of industries, 17 out of 22 industry groups in the manufacturing sector have shown negative growth during the month of December 2016 as compared to the corresponding month of the previous year.

The industry group 'Office, accounting and computing machinery' has shown the highest negative growth of (-) 23.9 percent followed by (-) 22.9 percent in other transport equipment and (-) 14.4 percent in luggage, handbags, saddlery, harness and footwear; tanning and dressing of leather products. On the other hand, the industry group, Basic metals, has shown the highest positive growth of 11.1 percent followed by 9.8 percent in Radio, TV and communication equipment and apparatus and 3.0 percent in refined petroleum products and nuclear fuel.

As per use-based classification, the growth rates in December 2016 over December 2015 are 5.3 percent in Basic goods, (-) 3.0 percent in Capital goods and (-) 1.2 percent in Intermediate goods. The Consumer durables and Consumer non-durables have recorded growth of (-) 10.3 percent and (-) 5.0 percent respectively, with the overall growth in Consumer goods being (-) 6.8 percent.

Some important items that have registered high negative growth include Woollen Carpets [(-) 51.3 percent), Three-Wheelers (including passenger and goods carrier) [(-) 43.3 percent], Ayurvedic Medicaments [(-) 39.6%], Rice [(-) 32.8 percent].

On the other hand, a number of items have recorded high positive growth, including Fruit Pulp (120.1 percent), Electric sheets (99.9 percent), Vitamins (37.4 percent), and Aviation Turbine Fuel (32.7 percent).