India's industrial output dips by 0.3% in December 2019
Business & Economy

India's industrial output dips by 0.3% in December 2019

NetIndian News Network

New Delhi, February 12, 2020

India's industrial output dipped by 0.3 per cent in December 2019 as compared to the level in the same month of the previous year, official data released here today said.

An official press release, citing the data, said the Quick Estimates of Index of Industrial Production (IIP), with base 2011-12=100, for December 2019 stood at 133.5.

The cumulative growth for the period April-December 2019 over the corresponding period of the previous year stood at 0.5%, it said.

According to the release, the Indices of Industrial Production for the Mining, Manufacturing and Electricity sectors for the month of December 2019 stood at 120.6, 134.2 and 150.2, respectively, with the corresponding growth rates of 5.4%, (-) 1.2% and (-) 0.1% as compared to December 2018.

The cumulative growth in these three sectors during April-December 2019 over the corresponding period of 2018 was 0.6%, 0.5% and 0.8%, respectively.

The release said that 16 of the 23 industry groups in the manufacturing sector showed negative growth during December 2019 as compared to the corresponding month of the previous year.

The industry group ‘Manufacture of computer, electronic and optical products’ showed the highest negative growth of (-) 24.9%, followed by (-) 20.3% in ‘Manufacture of machinery and equipment n.e.c.’ and (-) 15.5% in ‘Printing and reproduction of recorded media’.

On the other hand, the industry group ‘Manufacture of basic metals’ showed the highest positive growth of 14.2% followed by 13.2% in ‘Manufacture of wood and products of wood and cork, except furniture; manufacture of articles of straw and plaiting materials’ and 5.9% in ‘Manufacture of leather and related products’.

The growth rates in December 2019 over December 2018 were 2.2% in Primary goods, (-) 18.2% in Capital goods, 12.5% in Intermediate goods and (-) 2.6% in Infrastructure/ Construction Goods. Consumer durables and Consumer non-durables recorded growth of (-) 6.7% and (-) 3.7%, respectively.