India’s industrial output lowers in June

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New Delhi, Aug 11 (IANS) A decline in the manufacturing sector brought down India’s factory output in June, official data showed on Friday.

The factory output, as per the new Index of Industrial Production (IIP) with revised base year of 2011-12, declined by (-)0.1 per cent during June from a rise of 2.80 per cent reported for May, 2017.

The factory output had expanded by eight per cent in the corresponding month of the previous year.

On a year-to-date basis, the output rose by 2 per cent during April-June, 2017.

As per the IIP data released by the Central Statistics Office (CSO), last month’s contraction was mainly on account of a (-)0.4 per cent (2.61 per cent) deceleration in manufacturing output, which has the maximum weight in the overall index.

Besides manufacturing, the output of other two major sub-indices — mining and electricity — slowed during the month under review.

The mining output inched-up by 0.4 per cent (0.19 per cent in May) and that for electricity generation edged higher by 2.1 per cent (8.28 per cent).

Among the six use-based classification groups, the output of primary goods contracted by (-) 0.2 per cent, (-) 0.6 per cent in intermediate goods, consumer durables declined by (-) 2.1 per cent and capital goods’ was lower by (-) 6.8 per cent.

In contrast, the output of consumer non-durables edge-higher by 4.9 per cent and 0.6 percent in infrastructure or construction goods.

“In terms of industries, fifteen out of the twenty three industry groupsin the manufacturing sector have shown negative growth during the month of June 2017 as compared to the corresponding month of the previous year,” the “Quick Estimates of IIP” for the month of June 2017 said.

“The industry group ‘manufacture of electrical equipment’ has shown the highest negative growth of (-) 20.1 percent… On the other hand, the industry group ‘other manufacturing’ has shown the highest positive growth of 28.1 per cent.”

–IANS

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