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Manufacturing decelerates India's November industrial output growth rate

IANS  |  New Delhi 

Lower production in the sector sharply decelerated India's industrial output growth rate to 0.5 per cent in November from a rise of 8.4 per cent in October and 8.5 per cent during the corresponding period of the previous fiscal.

According to the (CSO), the output rate of the sector fell by (-) 0.4 per cent in November from a year-on-year rise of 10.4 per cent.

"The 'Quick Estimates of Index of Industrial Production' (IIP) with base 2011-12 for the month of November 2018 stands at 126.4, which is 0.5 per cent higher as compared to the level in the month of November 2017," the CSO said in a statement.

"The cumulative growth for the period April-November 2018 over the corresponding period of the previous year stands at 5 per cent."

On a YoY basis, production edged-up by 2.7 per cent and the sub-index of increased by 5.1 per cent.

Among the six use-based classification groups, the output of primary goods which has the highest weightage of 34.04 grew by 3.2 per cent. The output of intermediate goods, which has the second highest weightage, fell by (-) 4.5 per cent.

Similarly, output of consumer non-durables inched lower by (-) 0.6 per cent and that of consumer durables by (-) 0.9 per cent.

In addition, output of infrastructure or construction good increased by 5 per cent and that of capital goods by (-) 3.4 per cent.

"In terms of industries, ten out of the twenty three groups in the sector have shown positive growth during the month of November 2018 as compared to the corresponding month of the previous year," the statement said.

"... The group 'Manufacture of fabricated metal products, except and equipment' has shown the highest negative growth of (-) 13.4 per cent followed by (-) 9.6 percent in 'Manufacture of electrical equipment' and (-) 7.3 in 'Other manufacturing'."

--IANS

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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, January 11 2019. 19:36 IST
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