IIP growth slows to 2.1% in March

Industrial production in the country grew at a slow pace of 2.1 per cent in March 2015, down from a 5 per cent recorded in the previous month, on the back of sluggish growth across sectors.

Cumulative production during April-March 2014-15 grew at 2.8 per cent compared to the level in the corresponding period of the previous financial year.

Production in the mining, manufacturing and electricity sectors recorded growth rates of 0.9 per cent, 2.2 per cent and 2.0 per cent, respectively compared to growth rates of 2.5 per cent, 5.2 per cent and 5.9 per cent, respectively, in the previous month (February 2015).

The three sectors recorded cumulative growth rates of 1.4 per cent, 2.3 per cent and 8.4 per cent, respectively, during April-March 2014-15 against 1.5 per cent, 2.2 per cent and 9.1 per cent, respectively, during April-February 2014-15.

Thirteen out of the 22 industry groups in the manufacturing sector have shown positive growth during March 2015 compared to the corresponding month of the previous year.

The industry group 'furniture, manufacturing' has shown the highest positive growth of 34 per cent, followed by 'electrical machinery and apparatus' 18.2 per cent and 'wood and products of wood and cork except furniture, articles of straw and plating materials' 12.5 per cent.

On the other hand, the industry group 'radio, TV and communication equipment and apparatus' has shown the highest negative growth of (-) 62.8 per cent, followed by 'office, accounting and computing machinery' (-) 39.4 per cent in and 'tobacco products' (-)12.1 per cent.
 
Basic goods industries grew at 2.3 per cent in March while capital goods recorded a growth of 7.6 per cent and production of intermediate goods grew at 1.9 per cent. Production of consumer durables and consumer non-durables have registered negative growth rates of (-) 4.7 per cent and 1.9 per cent, respectively, with overall growth in consumer goods being (-) 0.7 per cent.