India’s industrial production growth declines 0.4% in December

Industrial production growth in the country declined to by 0.4 per cent in December 2016 with most industry groups registering negative growth during the month, quick estimates of industrial production released by the Central Statistics Office (CSO) showed.

The cumulative growth for the period April-December 2016 over the corresponding period of the previous year stands at 0.3 per cent.

Production in the mining, manufacturing and electricity sectors grew at 5.2 per cent, (-) 2.0 per cent and 6.3 per cent, respectively, compared to December 2015. The three sectors recorded cumulative growth of 0.9 per cent, (-) 0.5 per cent and 5.1 per cent, respectively, during April-December 2016-17.

Seventeen out of the 22 industry groups in the manufacturing sector have shown negative growth during December 2016 compared to December 2015. The industry group 'office, accounting and computing machinery' has shown the highest negative growth of (-) 23.9 per cent, followed by 'other transport equipment' (-) 22.9 per cent and 'luggage, handbags, saddlery, harness and footwear; tanning and dressing of leather products' (-) 14.4 per cent.

On the other hand, the industry group 'basic metals' has shown the highest positive growth of 11.1 per cent, followed by `radio, TV and communication equipment & apparatus' 9.8 per cent and 'Coke, refined petroleum products and nuclear fuel' 3.0 per cent.

Basic goods production increased by 5.3 per cent while capital goods production increased by 3.0 per cent and intermediate goods production increased by 1.2 per cent.