India’s industrial production barely grows at 0.1% in February
12 Apr 2019
Industrial production in the country, based on the index of industrial production (IIP), increased by a meagre 0.1 per cent year-on-year in February 2019, quick estimates released by the ministry of statistics and programme implementation showed.
Cumulative growth of industrial production during the period April-February 2018-19 stood at 4.0 per cent year-on-year.
Production in the mining, manufacturing and electricity sectors registered growth rates of 2.0 per cent, (-) 0.3 per cent and 1.2 per cent, respectively, in February 2019. Cumulative growth in these three sectors during April-February 2018-19 stood at 3.0 per cent, 3.8 per cent and 5.5 per cent, respectively.
Ten out of the 23 industry groups in the manufacturing sector have shown positive growth during February 2019 compared to the corresponding month of the previous year.
The industry group ‘wearing apparel’ has shown the highest growth of 19.3 per cent, followed by ‘food products’ 13.8 per cent and ‘wood and products of wood and cork, except furniture; manufacture of articles of straw and plaiting materials’ 8.3 per cent.
On the other hand, the industry group ‘machinery and equipment’ has shown the highest negative growth of (-) 12.8 per cent followed by (-) 10.7 percent in ‘fabricated metal products, except machinery and equipment’ (-) 10.7 per cent and ‘manufacture of furniture’ (-) 9.7 per cent.
Production in the primary goods sector increased by 1.2 per cent in February 2019, while capital goods and intermediate goods sectors registered negative growth rates of (-) 8.8 per cent and (-) 4.9 per cent, respectively in February 2019. Production in the infrastructure/ construction goods sector grew 2.4 per cent in February 2019.
Production of consumer durables and consumer non-durables recorded growth rates of 1.2 per cent and 4.3 per cent, respectively.