India's November Industrial Production at 19-month low of 0.5%

New Delhi: India's industrial output slipped to 0.5 percent in November as compared to 8.1 percent in October mainly on the back of contraction in manufacturing sector, mining, capital goods and consumer durable goods.

The cumulative growth for the period April-November 2018 over the corresponding period of the previous year stands at 5.0 percent, an official release said. The growth for October 2018 was revised upwards to 8.4 per cent from 8.1 percent.

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. 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.

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.

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’. 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. The Consumer durables and Consumer non-durables have recorded growth of (-) 0.9 percent and (-) 0.6 percent respectively.