Industrial production growth gains pace, rises by 2.6% in January

Growth of industrial production in the country gained pace, although still slowly, growing at 2.6 per cent year-on-year in January, compared to the 1.7 per cent growth recorded in the previous month, December 2014.

Cumulative growth of industrial production during April-January 2014-15 over the corresponding period of the previous year stood at 2.5 per cent.

Growth was blunted by negative growth in mining production, which registered a growth of (-) 2.8 per cent in January 2015.

Manufacturing and electricity sectors recorded positive growth at 3.3 per cent and 2.7 per cent, respectively.

The three sectors recorded cumulative growth of 1.3 per cent, 1.7 per cent and 9.3 per cent, respectively, during April-January 2014-15 compared to the corresponding period of 2013-14.

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

The industry group 'electrical machinery and apparatus' has shown the highest positive growth of 28.1 per cent, followed by 'furniture and manufacturing (23.5 per cent) and 'Rubber and plastics products' (15.3 per cent).

On the other hand, the industry group 'radio, TV and communication equipment and apparatus' has shown the highest negative growth of (-) 51.3 per cent, followed by 'office, accounting and computing machinery' (- 35.1 per cent) and 'fabricated metal products, except machinery and equipment' (-9.7 per cent).

Production of basic goods rose 4.5 per cent in January 2015 while capital goods production rose 12.8 per cent and production of intermediate goods registered negative growth at (-0.8 per cent).

Among consumer products, durables and non-durables have recorded growth rates of (-) 5.3 per cent and (-) 0.1 per cent, respectively, with the overall growth in consumer goods being (-) 1.9 per cent.