Industrial growth rebounds in November
12 Jan 2012
Industrial production in the country grew at an estimated 5.9 per cent year-on-year in November 2011, against a negative (-)5.1 per cent growth in October 2011, raising hopes of a rebound from the declining trend in economic activity noticed in the previous months.
The bounce-back during the month was aided by a rise in manufacturing output where production of both consumer durables and consumer non-durables recorded double-digit growth, quick estimated released by the Central Statistics Office (CSO) showed.
The CSO, meanwhile, revised the October 2011 data on industrial production to (-) 4.74 per cent against the previous estimate of (-) 5.1 per cent.
The general index of industrial production (IIP) for November 2011 (base 2004-05) stood at 167.4, up 5.9 per cent from the level in November 2010.
Cumulative growth of industrial production for April-November 2011-12 rose 3.8 per cent over the corresponding period of the previous year.
Production indices for the mining, manufacturing and electricity sectors for November 2011 stood at 127.6, 177.8 and 145.6, respectively, with corresponding growth rates of (-)4.4 per cent, 6.6 per cent and 14.6 per cent, compared to November 2010 levels.