IIP declines to 3.1 pc in May

IIP declines to 3.1 pc in May

Agency News

New Delhi, Jul 12: Index of Industrial Production dipped at 3.1 percent in May against 3.4 per cent in April 2019, the Government announced on Friday.

The cumulative growth for the period of April-May 2019 over the corresponding period of the previous year stood at 3.7 percent, data, released by the Ministry of Statistics and Programme Implementation, said here.

The indices of Industrial Production for the Mining, Manufacturing and Electricity sectors for May 2019 stood at 3.2 percent, 2.5 percent and 7.4 percent, the data said.

The cumulative growth in these three sectors during April-May 2019 over the corresponding period of 2018 has been 4.1 percent, 3.2 percent and 6.7 percent respectively.

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

According to the data, the industry group ‘Manufacture of wood and products of wood and cork, except furniture; manufacture of articles of straw and plaiting materials’ has shown the highest positive growth of 24.8 percent followed by 15.9 percent in ‘Manufacture of food products’ and 9.4 percent in ‘Manufacture of computer, electronic and optical products’.

On the other hand, the industry group ‘Manufacture of paper and paper products’ has shown the highest negative growth of (-) 12.2 percent followed by (-) 9.9 per cent in ‘Manufacture of furniture’ and (-) 8.7 per cent in ‘Manufacture of fabricated metal products, except machinery and equipment’.

As per Use-based classification, the growth rates in May 2019 are 2.5 percent in Primary goods, 0.8 percent in Capital goods, 0.6 percent in Intermediate goods and 5.5 percent in Infrastructure/ Construction Good. The Consumer durables and Consumer non-durables have recorded growth of (-) 0.1 percent and 7.7 percent respectively. (UNI)