Industrial growth dips down to 17-month low of 0.5 pc in Nov

According to data released by the Central Statistics Office (CSO) on Friday, Factory output as measured in terms of the Index of Industrial Production (IIP) had grown by 8.5 per cent in November 2017.

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Industrial growth dips down to 17-month low of 0.5 pc in Nov
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On account of slow down in manufacturing sector, particularly consumer and capital goods, Industrial output growth dropped to a 17-month low of 0.5 per cent in November.

According to data released by the Central Statistics Office (CSO) on Friday, Factory output as measured in terms of the Index of Industrial Production (IIP) had grown by 8.5 per cent in November 2017.

The previous low was in June 2017, when IIP growth contracted by 0.3 per cent. The growth for October 2018 was revised upwards to 8.4 per cent from 8.1 per cent.

During the April-November period, industrial output grew 5 per cent as compared to 3.2 per cent in the same period of the previous fiscal.

The manufacturing sector, which constitutes 77.63 per cent of the index, recorded slimming down of 0.4 per cent in November as against a growth of 10.4 per cent a year ago.

The mining sector posted 2.7 per cent growth during the month as against 1.4 per cent in November 2017, while Power sector output also grew by 5.1 per cent from 3.9 per cent a year ago.

Capital goods output declined by 3.4 per cent, compared to 3.7 per cent growth a year ago. Consumer durables output also dipped by 0.9 per cent as against a growth of 3.1 per cent a year earlier. Consumer non-durable goods also saw a contraction of 0.6 per cent as compared to 23.7 per cent growth a year ago.

In terms of industries, 10 out of 23 industry groups in the manufacturing sector showed positive growth during November 2018.

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Industrial growth dips down to 17-month low of 0.5 pc in Nov
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Industrial growth dips down to 17-month low of 0.5 pc in Nov
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According to data released by the Central Statistics Office (CSO) on Friday, Factory output as measured in terms of the Index of Industrial Production (IIP) had grown by 8.5 per cent in November 2017.
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The Policy Times
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