December IIP at 1.8% Vs 5.9% in November

  • Industrial production grew by just 1.8 percent year-on-year in December 2011 due to contraction in mining and capital goods sectors and a lower manufacturing sector growth.

  • Factory output growth, as measured by the Index of Industrial Production (IIP), was at 8.1 percent in December 2010.
  • Output of the manufacturing sector, which constitutes over 75 percent of the index, rose at a lower rate of 1.8 percent in December, compared to a growth of 8.7 percent in the same month of 2010,  according to the official data released on Feb 10.
  • Besides, capital goods sector witnessed a contraction of 16.5 percent, against a growth of 20.2 percent in the same month in 2010.
  • Mining output too contracted by 3.7 percent in December, against 5.9 percent growth in the year ago period.
  • However, power generation witnessed a good growth of 9.1 percent in December 2011, compared to 5.9 percent in the year ago period.
  • During the month, 15 out of 22 industry groups witnessed a positive growth.
  • During the month output of basic goods went up by 4 percent, against 7.8 percent in the year ago period. However, intermediate goods witnessed a contraction of 2.8 percent, against 8.1 percent growth in December 2010.
  • During the April-December 2011, the IIP growth stood at 3.6 percent, against 8.3 percent in corresponding period a year ago.
  • Besides, the IIP figure for November, 2011, has been revised to 5.94 percent from the provisional estimates of 5.9 percent.
  • Commenting on the IIP figures, Planning Commission Deputy Chairman Montek Singh Ahluwalia said that the numbers are expected to bottom out in the third quarter and revive in the January-March period.
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