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LATEST NEWS UPDATES | Industrial output contracts in August

Industrial output contracts in August

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published Published on Oct 11, 2016   modified Modified on Oct 11, 2016
-PTI

India’s index of industrial production contracted by 0.7 per cent in August, the second month in a row that it has remained in negative territory, following a slump in manufacturing, mining and capitals goods segments.

Factory output as measured by movement in the IIP had slipped to an eight-month low of (-)2.49 (revised) in July on account of declining output in manufacturing and capital goods sectors.

The IIP slump in August is lower than that in July.

On a cumulative basis, the factory output in April-August contracted by 0.3 per cent, compared with the growth of 4.1 per cent shown in the year-ago period.

According to official data released on Monday, the manufacturing sector, which accounts for over 75 per cent of the IIP index, contracted by 0.3 per cent in August. It had expanded by 6.6 per cent in the same month last year.

Production of capital goods fell steeply by 22.2 per cent in August. It had shown a growth of 21.3 per cent in same month last year.

Output of consumer durables was up 2.3 per cent, but growth in non-durables segment was almost flat.

Overall, consumer goods production recorded a growth 1.1 per cent in August compared with six per cent a year ago.

Seven out of 22 industry groups in the manufacturing sector have shown negative growth during August year-on-year.

Some important items showing high negative growth during the current month were cable, rubber insulated, sugar machinery, woollen carpets, gems and jewellery, and rice.

Some important items that have shown high positive growth are fruit pulp, air conditioner, instant food mixes, ship building and repairs, scooter and mopeds, stainless/ alloy steel and boilers.

The Telegraph, 10 October, 2016, http://www.telegraphindia.com/1161010/jsp/frontpage/story_112861.jsp#.V_ve-_T3_N4


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