Industrial output growth bounces back to 6.8 per cent in January
12 Mar 2012
Industrial production in the country grew at a faster pace of 6.8 per cent in January 2012, against a slow 1.8 per cent growth recorded in December 2011, showing a pick-up in manufacturing.
This is the highest IIP growth witnessed in the last 7 months and is a bit surprising as the main thrust to industrial output growth in January 2012 came from consumer non-durable sector which grew at 42 per cent.
According to Ratings agency Crisil, this high growth in January 2012 seems unsustainable as the industrial sector is still beset with a number of domestic and global headwinds.
The general index of industrial production (IIP) for January 2012 stood at 187.9, up 6.8 per cent from the output level in January 2011, quick estimates of IIP released by the Central Statistics Office showed.
Cumulative growth of industrial production for the first 10 months of the current financial year (April-January 2011-12) stands at 4.0 per cent, compared to the corresponding output levels during the previous year period.
''The index (of industrial production) is a composite indicator that measures the short-term changes in the volume of industrial production,'' minister of state for statistics and programme implementation Srikant Kumar Jena pointed out.
