Mining, manufacturing drag India's industrial production growth to 3.1% in May

Mining, manufacturing drag India's industrial production growth to 3.1% in May

The growth rates of mining, manufacturing and electricity sectors for the month of May 2019 stand at 3.2 per cent, 2.5 per cent and 7.4 per cent, respectively

The IIP expanded by 3.8 per cent in May 2018 The IIP expanded by 3.8 per cent in May 2018

India's industrial output slowed to 3.1 percent in May, weighed down by muted growth in mining and manufacturing sectors, according to IIP data released by the government on Friday.

"The Index of Industrial Production (IIP), which gauges production in the industrial sector for a given period of time, expanded by 3.8 per cent in May 2018," showed data released by the Ministry of Statistics and Programme Implementation.

The industrial output rose to 4.3 per cent in April after a sharp decline of 0.4 per cent in March this year. During January-March quarter, the manufacturing sector grew 3.1 per cent versus 9.5 per cent in the same quarter last year.

The growth in the manufacturing sector slowed to 2.5 per cent in May, from 3.6 per cent in the corresponding month of the last fiscal.

In a similar trend, the expansion in the mining sector slipped to 3.2 per cent as against 5.8 per cent in the year-ago month.

However, the power generation rose sharply rise to 7.4 per cent in May, against 4.2 per cent in same month last year.

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As per use-based classification, the growth rates in primary goods was 2.5 per cent in May 2019 over May 2018. Capital goods posted a growth of 0.8 per cent, followed by intermediate goods (0.6 per cent) and construction goods (5.5 per cent).  The consumer durables and consumer non-durables have recorded growth of (-) 0.1 per cent and 7.7 per cent respectively.

In terms of industries, 12 out of the 23 industry groups in the manufacturing sector reported positive growth in May on the year-on-year basis.

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 per cent followed by 15.9 per cent in 'manufacture of food products' and 9.4 per cent 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 per cent followed by (-) 9.9 per cent in 'manufacture of furniture' and (-) 8.7 per cent in 'manufacture of fabricated metal products, except machinery and equipment'.

Edited by Chitranjan Kumar

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Published on: Jul 12, 2019, 8:14 PM IST
Posted by: Chitranjan kumar, Jul 12, 2019, 8:14 PM IST