Feb industrial output down 1.2 pct y/y

Industrial output in the country declined 1.2 per cent in February from a year earlier, as per quick estimates provided by the Central Statistical Organisation (CSO) of the ministry of statistics and programme implementation.

CSO, however, revised its January 2009 estimate from decline to a rise of 0.4 per cent.

For the whole of the financial year April 2008-March 2009, industrial output rose 8.1 per cent, compared with 11.6 per cent in 2006-07.

The general index of industrial production (IIP) (base 1993-94) stood at 272.8, down 1.2per cent compared to the level in the month of February 2008, according to quick estimates of provided by the CSO.

The cumulative growth for the period April-February 2008-09 stood at 2.8 per cent over the corresponding period of the previous year.

The indices for the mining, manufacturing and electricity sectors for February 2009 showed growth rates of (-)1.6 per cent, (-)1.4 per cent and 0.7 per cent, at 180.6, 292.7 and 212.7, respectively, compared to February 2008. The cumulative growth during April-February 2008-09 over the corresponding period of 2007-08 in the three sectors have been 2.4 per cent, 2.8 per cent and 2.4 per cent respectively, which moved the overall growth in the general index to 2.8 per cent.

In terms of industries, as many as eight out of the seventeen industry groups have shown positive growth during February 2009 as compared to the corresponding month of the previous year. The industry group 'machinery and equipment other than transport equipment' has shown the highest growth of 15.6 per cent, followed by 12.6 per cent in 'other manufacturing industries' and 6.3 per cent in 'beverages, tobacco and related products'.

On the other hand, the industry group 'metal products and parts, except machinery and equipment' showed a negative growth of 31.3 per cent followed by 28.1 per cent in 'food products' and 16.5 per cent in 'wood and wood products; furniture and fixtures'.

As per use-based classification, basic goods registered a negative growth of (-)0.4 per cent while capital goods production grew at 10.4 per cent and  intermediate goods showed a negative growth of (-)5.4 per cent in February 2009.

Production of consumer durables and consumer non-durables recorded growth rates of 5.7 per cent and (-)5.5 per cent, respectively, even as overall growth in consumer goods declined to (-)3.0 per cent.

The index of industrial production for January 2009 has undergone a revision while that for November 2008 has undergone the second (final) revision in the light of the updated data received from the source agencies, CSO said in its release.