New Delhi: India’s Industrial production (IIP) growth slipped to 0.5 percent in November as against 8.1 percent in October, data released by the statistics office showed. As per the official release, the cumulative growth for the period April-November 2018 over the corresponding period of the previous year stands at 5.0 percent.Also Read - India's March Industrial Output Rate Rises to 4.7%
The Indices of Industrial Production for the Mining, Manufacturing and Electricity sectors for the month of November 2018 stand at 110.6, 127.2 and 147.2 respectively, with the corresponding growth rates of 2.7 percent, (-) 0.4 percent and 5.1 percent as compared to November 2017 (Statement I). The cumulative growth in these three sectors during April-November 2018 over the corresponding period of 2017 has been 3.7 percent, 5.0 percent and 6.6 percent respectively. Also Read - Markets recoup 199 pts for the week, Nifty all-time high
In terms of industries, ten out of the twenty three industry groups (as per 2-digit NIC-2008) in the manufacturing sector have shown positive growth during the month of November 2018 as compared to the corresponding month of the previous year (Statement II). The industry group ‘Manufacture of wearing apparel’ has shown the highest positive growth of 22.1 percent followed by 7.6 percent in ‘Manufacture of wood and products of wood and cork, except furniture; manufacture of articles of straw and plaiting materials’ and 7.4 percent in ‘Manufacture of other transport equipment’. Also Read - Industrial output grows at 4.2% in July
On the other hand, the industry group ‘Manufacture of fabricated metal products, except machinery and equipment’ has shown the highest negative growth of (-) 13.4 percent followed by (-) 9.6 percent in ‘Manufacture of electrical equipment’ and (-) 7.3 in ‘Other manufacturing’.
As per Use-based classification, the growth rates in November 2018 over November 2017 are 3.2 percent in Primary goods, (-) 3.4 percent in Capital goods, (-) 4.5 percent in Intermediate goods and 5.0 percent in Infrastructure/ Construction Goods (Statement III). The Consumer durables and Consumer non-durables have recorded growth of (-) 0.9 percent and (-) 0.6 percent respectively.