India’s IIP growth decline to 3.8% in September

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India's IIP growth decline to 3.8% in September

Industrial production measured in terms of the Index of Industrial Production (IIP) had grown by 4.5 per cent in August 2017 and 5 per cent in September 2016.

India’s industrial production grew less-than-expected in September, preliminary data from the Central Statistics Office showed Friday.

The Index of Industrial Production for the September grew 3.8 percent higher in comparison with the previous year, remaining at 122.7. The index edged higher by 3.8 per cent when compared to the level achieved in September 2016 on a year-on-year (YoY) basis. The cumulative growth for the period April-September 2017 over the corresponding period of the previous year stands at 2.5 percent.

Mining production grew 7.9 percent and both manufacturing and electricity sectors registered 3.4 percent increase each. The cumulative growth in these three sectors during April-September 2017 over the corresponding period of 2016 has been 3.9%, 1.9%, and 5.7% respectively.

On the other hand, the industry group “other manufacturing” has shown the highest negative growth of (-) 27.1 per cent, followed by “manufacture of tobacco products” (-) 23.1 per cent and “manufacture of electrical equipment” (-) 19.2 per cent.

Production of consumer durables and consumer non-durables recorded growth rates of (-) 4.8 per cent and 10 per cent, respectively. In September past year, consumer durables output grew 14 per cent.

According to the use-based classification, growth rates in September 2017 came in at 6.6 per cent for primary goods, 7.4 per cent for capital goods, 1.9 per cent for intermediate goods and 0.5 per cent for infrastructure/construction goods compared to the previous year.

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