13 out of 23 industry groups in the manufacturing sector shows negative growthIndia's industrial production (base year 2011-12=100) growth moderated sharply to 20-month low of mere 0.1% in February 2019, compared with 1.4% growth recorded in January 2019. The industrial production growth for January 2019 has been revised downwards from 1.7% increase reported provisionally.
The manufacturing sector output declined 0.3%, while the mining sector production growth eased to 2.0% in February 2019. However, the electricity generation growth remained subdued at 1.2% in February 2019, while recovering slightly from 0.9% rise in January 2019.
As per the use-based classification, the output of capital goods dipped 8.8% in February 2019, while the output of intermediate goods also fell 4.9% in February 2019, posting fall for second straight month. The output of primary goods rose at slower pace of 1.1%, while the growth infrastructure/ construction goods eased to 2.4% in February 2019. The output of consumer durables rose at slower pace of 1.2%, while that of consumer non-durable durables increased at higher pace of 4.3% in February 2019.
In terms of industries, ten out of the twenty three industry groups in the manufacturing sector have shown positive growth during the month of February 2019 as compared to the corresponding month of the previous year.
The industry group Manufacture of wearing apparel has shown the highest positive growth of 19.3%, followed by 13.8% in Manufacture of food products and 8.3% in Manufacture of wood and products of wood and cork, except furniture; manufacture of articles of straw and plaiting materials.
On the other hand, the industry group Manufacture of machinery and equipment has shown the highest negative growth of (-) 12.8% followed by (-) 10.7% in Manufacture of fabricated metal products, except machinery and equipment and (-) 9.7 in Manufacture of furniture.
The cumulative industrial production increased 3.9% in April-February FY2019 compared with 4.3% growth in April-February FY2018. The manufacturing sector growth rose 3.9% in April-February FY2019 from 4.6% growth in the corresponding period last year. The electricity generation output growth improved to 5.5%, while mining output growth improved to 3.1% in April-February FY2019.
Powered by Capital Market - Live News
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)