Industrial output down 0.4% in September
New Delhi: Indicating persistent sluggishness in the economy, industrial production contracted by 0.4 percent in September due dismal show by manufacturing sector and decline in consumer as well as capital goods output.
Growth in overall factory output, as measured by the Index of Industrial Production (IIP), was 2.5 percent in September last year.
Industrial output in the April-September period this fiscal was 1 percent, down from 5.1 percent in the same period in 2011-12, according to the official data released Monday.
Meanwhile the industrial production growth rate for August this year was revised downward to 2.3 percent from earlier provisional estimates of 2.7 percent released last month.
The output of manufacturing sector, which constitutes over 75 percent of the index, contracted by 1.5 percent in September, as against a growth of 3.1 percent in the same month last year.
The production in the manufacturing sector in April- September this year also dipped by 0.4 percent as against a growth of 5.5 percent growth in the same period in 2011-12.
Capital goods output declined by 12.2 percent in September, as against a contraction of 6.5 percent in September, 2011.
Output of capital goods contracted in the April-September period by 13.7 percent, as against growth of 4.6 percent in the 2011-12 period.
However, mining output in September grew by 5.5 percent as against a contraction of 7.5 percent in same month last year. The sector's production in April-September was flat as compared to a contraction of 1.6 percent in a year ago.
Consumer goods production was down by 0.3 percent in September as compared to a growth of 5.7 percent in same month last year. In April-September period of this fiscal, the growth in the segment was 2.5 percent, compared to 4.7 percent in the first half of last fiscal.
In all, 12 of the 22 industry groups in the manufacturing sector showed growth in August.
Consumer durables production declined by 1.7 percent in September, compared to growth of 8.9 percent in the same month last year.
The output of these goods registered a growth of 3.8 percent during April-September, as against 5.3 percent in the same period last fiscal.
The consumer non-durables output growth was 1.1 percent in September, as against 2.7 percent in the same month last year. This segment grew by 1.4 percent in first half of this fiscal, as against 4 percent in the same period of 2011-12.
The basic goods production growth slowed to 3.5 percent in September, as against 5.3 percent the year-ago period.
During the April-September period, this segment recorded a growth of 2.9 percent, compared to 7.3 percent in the first half of last fiscal.
Power generation growth rate slowed to 3.9 percent in September, compared to 9 percent in the same month a year ago. The segment grew by 4.6 percent in the April-September period this fiscal, as against 9.4 percent in 2011-12.