India's August industrial output growth plummets to 5.6 per cent

Industrial production in the country grew at a slower 5.6 per cent year-on-year in August this year, sharply lower than the previous month's revised estimate of 15.2 per cent, official data released today showed.

Cumulative growth of the index of industrial production (IIP) during April-August 2010-11 was up 10.6 per cent compared to the corresponding period of the previous year.

The general index of industrial production in the country was up 5.6 per cent at 309.1 compared to the level in August 2009, quick estimates of the index of industrial production (base 1993-94) for August 2010, released by the Central Statistical Organisation (CSO) showed.

Production indices for the mining, manufacturing and electricity sectors for August 2010 stood at 190.6, 332.6, and 247.6 respectively, with the corresponding year-on-year growth rates of 7.0 per cent, 5.9 per cent and 1.0 per cent. Cumulative growth during April-August 2010-11 over the corresponding period of 2009-10 in the three sectors have been 9.4 per cent, 11.3 per cent and 4.3 per cent, respectively, which moved the overall growth in IIP to 10.6 per cent.

Fourteen out of the seventeen industry groups have shown positive growth during August 2010 compared to the corresponding month of the previous year. The industry group 'metal products and parts, except machinery and equipment' has shown the highest growth of 33.4 per cent, followed by `other manufacturing industries' 27.9 per cent and 'transport equipment and parts' 22.8 per cent.

On the other hand, the industry group 'wood and wood products, furniture and fixtures' has shown a negative growth of 15.3 per cent, followed by 'textile products (including wearing apparel)' 3.0 per cent.