Industrial Output growth dips to 20-month low in February

Agency News

New Delhi, Apr 12 : The Quick Estimates of Index of Industrial Production (IIP) for February 2019 slowed to a 20-month low of 0.1 per cent in February driven by slowdown in key sectors including manufacturing, mining, capital goods, and infrastructure, official data showed on Friday.
This was the smallest rise in industrial production since June 2017, when output fell 0.3 per cent.
The cumulative growth for the period April-February 2018-19 over the corresponding period of the previous year stood at 4.0 per cent, according to data released by the Central Statistics Office (CSO).
Industrial Production for the Mining, Manufacturing and Electricity sectors for February 2019 registered growth rates of 2.0 per cent, (-) 0.3 per cent and 1.2 per cent as compared to the same month last year.
The cumulative growth in these three sectors during April-February 2018-19 over the corresponding period of 2017-18 has been 3.0 per cent, 3.8 per cent and 5.5 per cent respectively.
In terms of industries, ten out of the twenty three industry groups in the manufacturing sector have shown positive growth during February 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 per cent followed by 13.8 per cent in ‘Manufacture of food products’ and 8.3 per cent 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 n.e.c.’ has shown the highest negative growth of (-) 12.8 per cent followed by (-) 10.7 per cent in ‘Manufacture of fabricated metal products, except machinery and equipment’ and (-) 9.7 in ‘Manufacture of furniture’.
As per Use-based classification, the growth rates in February 2019 over February 2018 are 1.2 per cent in Primary goods, (-) 8.8 per cent in Capital goods, (-) 4.9 per cent in Intermediate goods and 2.4 per cent in Infrastructure/ Construction Goods.
The Consumer durables and Consumer non-durables have recorded growth of 1.2 per cent and 4.3 per cent respectively.