Canindia News

Industrial output expands 2% in January

New Delhi, March 12 (IANS) Higher electricity generation coupled with rise in mining activity expanded India’s January factory output by 2 per cent from 0.07 per cent reported for December 2019.

Similarly, on a year-on-year basis the growth rate of factory output this January was higher than 1.6 per cent recorded in January 2019.

“The quick estimates of Index of Industrial Production (IIP) with base 2011-12 for January 2020 stands at 137.1, which is 2 per cent higher over January 2019,” said the Ministry of Statistics & Programme Implementation.

The cumulative growth for April-January 2019-20 over the corresponding period of the previous year stood at 0.5 per cent, it said.

As per the data, the output rate of the manufacturing sector rose by 1.5 per cent in January from a YoY rise of 1.3 per cent. The output of other notable sectors, such as mining and electricity generation, also increased.

The mining activity grew 4.4 per cent from a YoY growth 3.8 per cent and the sub-index of electricity generation was higher 3.1 per cent from a rise of 0.9 per cent.

Among the six use-based classification groups, the output of primary goods, which has the highest weight of 34.04, rose 1.8 per cent. The output of intermediate goods, which has the second highest weight, zoomed 15.8 per cent.

While consumer non-durables’ output fell 0.3 per cent, the consumer durables declined 4 per cent. Output of construction goods decreased by 2.2 per cent, and capital goods’ production receded by 4.3 per cent.

In terms of industries, 11 of the 23 industry groups in the manufacturing sector showed positive growth ths January compared with January 2019.

“The industry group ‘manufacture of tobacco products’ has shown the highest positive growth of 22.8 per cent, followed by 14.1 per cent in ‘manufacture of basic metals’ and 9 per cent in ‘manufacture of furniture’,” the ministry said.

“On the other hand, the industry group ‘printing and reproduction of recorded media’ witnessed the highest negative growth of 16.3 per cent, followed by 11.6 per cent in ‘manufacture of computer, electronic and optical products’ and 10.6 per cent in ‘manufacture of motor vehicles, trailers and semi-trailers’,” it said.

–IANS

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