Industrial output grows at a faster pace of 8.1% in Oct
12 Dec 2018
Industrial production in the country based on the Index of Industrial Production (IIP) grew at a faster pace of 8.1 per cent year-on-year in October 2018 on the back of higher growth across mining, manufacturing and electricity sectors.
Cumulative growth in industrial production for April-October 2018 stands at 5.6 per cent, as per quick estimates released by the ministry of statistics and programme implementation.
Production in the mining, manufacturing and electricity sectors recorded growth rates of 7 per cent, 7.9 per cent and 10.8 per cent, respectively during October 2018 while cumulative growth in these three sectors during April-October 2018 stood at 3.8 per cent, 5.6 per cent and 6.8 per cent, respectively.
Twenty-one out of the 23 industry groups in the manufacturing sector have shown growth during October 2018. The industry group ‘manufacture of furniture’ has shown the highest growth of 41 per cent, followed by ‘manufacture of wood and products of wood and cork, except furniture; manufacture of articles of straw and plaiting materials’ at 39 per cent and ‘manufacture of computer, electronic and optical products’ at 30.2 per cent.
On the other hand, the industry group ‘manufacture of paper and paper products’ showed the highest negative growth of (-) 1.8 per cent, followed by ‘manufacture of beverages’ (-) 1.7 per cent.
Production of primary goods expanded by 6 per cent in October 2018 while production of capital goods increased by 16.8 per cent and production of intermediate goods expanded by 1.8 per cent during the month and production in the infrastructure/ construction goods sector rose 8.7 per cent.
Production of consumer durables and consumer non-durables recorded growth rates of 17.6 per cent and 7.9 per cent, respectively.