India's industrial production declines by 0.3% in December
12 Feb 2020
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India’s industrial production declined by 0.3 per cent in December 2019 after looking up by 1.8 per cent in November breaking off from successive declines in the past few months, quick estimates of the Index of Industrial Production (IIP) showed.
Cumulative growth of industrial production in April-December 2019-20 stood at 0.5 per cent, pulled down by the successive months of deceleration, official data released today showed.
Production in the mining, manufacturing and electricity sectors reported growth rates of 5.4 per cent, (-) 1.2 per cent and (-) 0.1 per cent, respectively, year-on-year. The three sectors recorded cumulative growth rates of 0.6 per cent, 0.5 per cent and 0.8 per cent, respectively, during April-December 2019.
Sixteen out of the 23 industry groups in the manufacturing sector have shown negative growth during December 2019 compared to the corresponding month of the previous year. The industry group ‘computer, electronic and optical products’ has shown the highest negative growth of (-) 24.9 per cent, followed by ‘machinery and equipment’ (-) 20.3 per cent and `printing and reproduction of recorded media’ (-) 15.5 per cent.
On the other hand, the industry group ‘basic metals’ has shown the highest growth of 14.2 per cent, followed by ‘wood and products of wood and cork, except furniture; manufacture of articles of straw and plaiting materials’ 13.2 per cent and ‘leather and related products’ 5.9 per cent.
Production of primary goods increased by 2.2 per cent while capital goods production declined by 18.2 per cent, intermediate goods production increased by 12.5 per cent and infrastructure/ construction goods production declined by 2.6 per cent.
Production of consumer durables and consumer non-durables recorded growth rates of (-) 6.7 per cent and (-) 3.7 per cent, respectively.
Along with the quick estimates of IIP for December 2019, the indices for November 2019 have undergone the first revision and those for September 2019 have undergone the final revision in the light of the updated data received from the source agencies.
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