The Index of Industrial Production (IIP) for the month of August contracted (-)0.7% versus (-)2.5% in July. The General Index for the month of August 2016 stands at 175.3, which is 0.7 percent lower as compared to the level in the month of August 2015. The cumulative growth for the period April-August 2016 over the corresponding period of the previous year stands at (-) 0.3 percent, said a Ministry of Statistics & Programme Implementation release.
The Indices of Industrial Production for the Mining, Manufacturing and Electricity sectors for the month of August stand at 113.5, 184.3 and 194.6 respectively, with the corresponding growth rates of (-) 5.6%, (-) 0.3% and 0.1%. The cumulative growth in these three sectors during April-August 2016 over the corresponding period of 2015 has been 0.6%, (-) 1.2% and 5.7% respectively.
In terms of industries, seven out of the twenty two industry groups in the manufacturing sector have shown negative growth. “The industry group ‘Electrical machinery & apparatus n.e.c.’ has shown the highest negative growth of (-) 49.4 percent followed by (-) 22.4 percent in ‘Furniture; manufacturing n.e.c.’ and (-) 6.6 percent in ‘Wearing apparel; dressing and dyeing of fur’,” the release said. While Basic goods sector grew at 3.3%, capital goods contracted (-)22.2.%. Intermediate goods grew at 3.6%.