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India's industrial production declines 0.1% in March 2019

Capital Market 

India's industrial production growth eases to 3.6% in FY2019

India's industrial production (base year 2011-12=100) declined 0.1% in March 2019, while snapping growth for last 21 straight months. The industrial production growth for February 2019 has been retained unchanged at 0.1% as reported provisionally.

The sector output declined for second straight month and third time in last five-months at 0.4%, while the sector production growth eased to 0.8% in March 2019. The generation growth also remained subdued at 2.2% in March 2019, while recovering for third straight month from 1.3% in February 2018 and 0.9% rise in January 2019.

As per the use-based classification, the output of capital goods dipped 8.7% in March 2019, while the output of intermediate goods fell for fifth straight month at 2.5% in March 2019. The output of primary goods rose 2.5%, while the growth infrastructure/ construction goods improved 6.4% in March 2019. Within the consumer durables, the output of consumer non-durables rose at slower pace of 0.3%, while that of consumer durables declined 5.1% in March 2019.

In terms of industries, 12 out of the 23 industry groups in the sector have shown negative growth during the month of March 2019 as compared to the corresponding month of the previous year.

The industry group manufacture of furniture has shown the highest negative growth of (-) 24.6% followed by (-) 18.5% in manufacture of other and (-) 15.3 in manufacture of fabricated metal products, except and equipment.

On the other hand, the industry group manufacture of has shown the highest positive growth of 13.5% followed by 10.6% in manufacture of computer, and 9.3% in manufacture of wood and products of wood and cork, except furniture; manufacture of articles of straw and plaiting materials.

The cumulative industrial production increased 3.6% in April-March FY2019 compared with 4.4% growth in April-March FY2018. The sector growth rose 3.5% in April-March FY2019 from 4.7% growth in the corresponding period last year. The generation output growth eased to 5.2%, while output growth improved to 2.8% in April-March FY2019.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, May 10 2019. 20:32 IST