Consumer durables in IIP down 4% in FY23 compared to pre-covid FY20

Segment falls 12% in FY23 over that in FY19 due to muted demand

The recently released index of industrial production (IIP) data showed that consumer goods, particularly durables, performed poorly in 2022-23 year-on-year. The performance of consumer durables becomes worse if one compares their output in FY23 to that of pre-Covid years.

Though the output index of consumer durables was up just 0.5 per cent in 2022-23 compared to 3.2 per cent in the previous year, it contracted almost four per cent compared to the pre-Covid year of 2019-20.

This was despite the fact that consumer durables had declined 8.7 per cent in 2019-20. If we go back a year earlier, consumer durables