India's November industrial output (IIP) falls, may prompt RBI rate cut: govt

During the April-November period, this segment recorded a growth of 2.8 per cent, compared to 6.3 per cent in the first eight months of last fiscal.

The intermediate goods output declined by 1.1 per cent in November as compared to a growth of 1.3 per cent in the same month in 2011. During the April-November period this fiscal, growth in the output of these goods was 1.8 per cent compared to a contraction of 0.6 per cent in the eight month period a year ago.

In terms of industries, 13 out of 22 groups in the manufacturing sector have shown negative growth in November, 2012 as compared to the same month in 2011.

The industry group 'Publishing, printing and reproduction of recorded media' has shown the highest contraction of 22.1 per cent, followed by 21.8 per cent in `Office, accounting and computing machinery' and 18.9 per cent in `Wood and products of wood & cork except furniture.

On the other hand, the industry group 'Electrical machinery and apparatus' has shown a positive growth of 25.1 per cent, followed by 15.7 per cent in 'Luggage, handbags, saddlery, harness and footwear; tanning and dressing of leather products' and 15.3 per cent in 'Radio, TV and communication equipment and apparatus'.

India's industrial output contracts

(Reuters) India's industrial output (Index of Industrial Production – IIP) shrank in November after a spurt the previous month, denting hopes of a recovery in economic growth and strengthening the case for an interest rate

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