Industrial output grows at 4.2 % in July

The data released by the Central Statistics Office (CSO) on Friday showed that the Industrial production expanded at a higher rate of 4.2 per cent in July this year, compared to the same month last year as manufacturing activity and offtake of capital goods improved.

Industrial growth, measured in terms of the Index of Industrial Production (IIP), was at 3.5 per cent in April-July period against 3.6 per cent in the year-ago period

Moreover, the IIP growth for June has been revised upwards to 4.36 per cent from provisional estimate of 3.8 per cent released last month.

The manufacturing sector, which constitutes over 75 per cent of the index, grew by 4.7 per cent in July 2015 against a contraction of 0.3 per cent in the same month last year.

The output of capital goods grew at an impressive rate of 10.6 per cent against a contraction of 3 per cent in the same month last year. The mining sector growth was at 1.3 per cent in July against 0.1 per cent in the same month last fiscal.

Power generation growth slowed to 3.5 per cent in July compared to 11.4 per cent in the same month a year ago.

The consumer durables goods output expanded at 11.4 per cent in July compared to a contraction of 20.4 per cent in the month a year ago.

Overall consumer goods output rose by 1.3 per cent in July compared to a contraction of 5.9 per cent in the month a year ago. In terms of industries, 12 out of 22 groups in the manufacturing sector showed positive growth in July.