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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 |
