IIP Grows by 1.8% in November
As per the data released by Ministry of Statistic and Program Implementation, the Quick Estimates of Index of Industrial Production (IIP) with base 2011-12 for the month of November 2019 stands at 128.4, which is 1.8 percent higher as compared to the level in the month of November 2018. The cumulative growth for the period April-November 2019 over the corresponding period of the previous year stands at 0.6 percent.
The rebound of IIP in November is seen also because of the low base effect. IIP had grown by only 0.2 percent in November 2018.
The growth rates for the Mining, Manufacturing and Electricity sectors for the month of November 2019 stand at 1.7 percent, 2.7 percent and -5.0 percent as compared to November 2018. The cumulative growth in these three sectors during April-November 2019 over the corresponding period of 2018 has been -0.1 percent, 0.9 percent and 0.8 percent respectively.
In terms of industries, ten out of the twenty three industry groups in the manufacturing sector have shown negative growth during the month of November 2019 as compared to the corresponding month of the previous year. The industry group 'Other manufacturing’ has shown the highest negative growth of (-) 13.5 percent followed by (-) 12.6 percent in ‘Manufacture of motor vehicles, trailers and semi-trailers’..On the other hand, 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 23.2 percent followed by 12.9 percent in ‘Manufacture of basic metals’.
As per Use-based classification, the growth rates in November 2019 over November 2018 are (-) 0.3 percent in Primary goods, (-) 8.6 percent in Capital goods, 17.1 percent in Intermediate goods and (-) 3.5 percent in Infrastructure/ Construction Goods. The Consumer durables and Consumer non-durables have recorded growth of (-) 1.5 percent and 2.0 percent respectively.
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The rebound of IIP in November is seen also because of the low base effect. IIP had grown by only 0.2 percent in November 2018.
The growth rates for the Mining, Manufacturing and Electricity sectors for the month of November 2019 stand at 1.7 percent, 2.7 percent and -5.0 percent as compared to November 2018. The cumulative growth in these three sectors during April-November 2019 over the corresponding period of 2018 has been -0.1 percent, 0.9 percent and 0.8 percent respectively.
In terms of industries, ten out of the twenty three industry groups in the manufacturing sector have shown negative growth during the month of November 2019 as compared to the corresponding month of the previous year. The industry group 'Other manufacturing’ has shown the highest negative growth of (-) 13.5 percent followed by (-) 12.6 percent in ‘Manufacture of motor vehicles, trailers and semi-trailers’..On the other hand, 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 23.2 percent followed by 12.9 percent in ‘Manufacture of basic metals’.
As per Use-based classification, the growth rates in November 2019 over November 2018 are (-) 0.3 percent in Primary goods, (-) 8.6 percent in Capital goods, 17.1 percent in Intermediate goods and (-) 3.5 percent in Infrastructure/ Construction Goods. The Consumer durables and Consumer non-durables have recorded growth of (-) 1.5 percent and 2.0 percent respectively.
Stay tuned for more updates. Feel free to comment.
This blog is now on Telegam. For reports on Economics, Current Affairs and more, subscribe this blog on Telegam.
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