India's Industrial production eases to 3.1% in May
The industry group ‘Manufacture of paper and paper products’ has shown the highest negative growth of 12.2 percent.
New Delhi: India's industrial output eased to 3.1 percent in May, as against 3.8 percent in the same period last year. The country's IIP stood at 3.4 percent in April, government data showed on Wednesday.
In terms of industries, twelve out of the twenty three industry groups in the manufacturing sector have shown positive growth during the month of May 2019 as compared to the corresponding month of the previous year.
The Indices of IIP for the the indices of industrial production for the mining, manufacturing and electricity sectors for the month of May 2019 stand at 111.0, 133.3 and 176.9 respectively, with the corresponding growth rates of 3.2 percent, 2.5 percent and 7.4 percent as compared to May 2018.
The cumulative growth in these three sectors during April-May 2019 over the corresponding period of 2018 has been 4.1 percent, 3.2 percent and 6.7 percent respectively.
The industry group ‘Manufacture of wood and products of wood and cork, except furniture; manufacture of articles of straw and plaiting materials’ has shown the highest positive growth of 24.8 percent followed by 15.9 percent in ‘Manufacture of food products’ and 9.4 percent in‘Manufacture of computer, electronic and optical products’.
On the other hand, the industry group ‘Manufacture of paper and paper products’ has shown the highest negative growth of 12.2 percent followed by 9.9 percent in ‘Manufacture of furniture’ and 8.7 percent in ‘Manufacture of fabricated metal products, except machinery and equipment'.