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Sunday 19 January 2020

Industrial output maintains momentum, grows 7.1% in Dec

New Delhi: Industrial output grew by 7.1% in December, maintaining the recovery momentum, on the back of robust performance by manufacturing as well as higher offtake of capital goods and non-durable consumer goods.

The Index of Industrial Production (IIP) had grown at 2.4% in December 2016, as per the data released on Monday by the Central Statistics Office (CSO).

The IIP growth for November 2017 was revised upwards to 8.8% from provisional estimates of 8.4% released last month.

The IIP growth in December was mainly on account of the uptick in the manufacturing sector which constitutes 77.63% of the index. It grew by 8.4% during the month as compared to just 0.6% in December 2016.

The capital goods, a barometer of investments, showed a sharp increase in output by 16.4% in December 2017 as against a decline of 6.2% a year ago.

The consumer non-durables, which are mainly fast moving consumer goods, too showed an increase of 16.5% as against the contraction of 0.2%.

As per use-based classification, the growth rates in December 2017 over December 2016 are 3.7% in Primary goods, 6.2% in Intermediate goods and 6.7% in Infrastructure/Construction Goods.

The Consumer durables have recorded growth of 0.9% in December 2017.

In terms of industries, 16 out of 23 industry groups in the manufacturing sector have shown positive growth during December 2017 as compared to the same month year ago.

PTI

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