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Industrial output slips 0.4% in September

Nov 12 2012, 13:56 IST
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Revised government figures released on Monday showed August output growth was revised down to 2.3 percent from 2.7 percent.   (Reuters) Revised government figures released on Monday showed August output growth was revised down to 2.3 percent from 2.7 percent. (Reuters)
SummaryManufacturing, which constitutes about 76% of industrial production, fell by 1.5%.

Indicating persistent sluggishness in the economy, industrial production contracted by 0.4 per cent in September due dismal show by manufacturing sector and decline in consumer as well as capital goods output.

Growth in overall factory output, as measured by the Index of Industrial Production (IIP), was 2.5 per cent in September last year.

Industrial output in the April-September period this fiscal was 1 per cent, down from 5.1 per cent in the same period in 2011-12, according to the official data released today.

Meanwhile the industrial production growth rate for August this year was revised downward to 2.3 per cent from earlier provisional estimates of 2.7 per cent released last month.

The output of manufacturing sector, which constitutes over 75 per cent of the index, contracted by 1.5 per cent in September, as against a growth of 3.1 per cent in the same month last year.

The production in the manufacturing sector in April- September this year also dipped by 0.4 per cent as against a growth of 5.5 per cent growth in the same period in 2011- 12.

Capital goods output declined by 12.2 per cent in September, as against a contraction of 6.5 per cent in September, 2011.

Output of capital goods contracted in the April-September period by 13.7 per cent, as against growth of 4.6 per cent in the 2011-12 period.

However, mining output in September grew by 5.5 per cent as against a contraction of 7.5 per cent in same month last year.

The sector's production in April-September was flat as compared to a contraction of 1.6 per cent in a year ago.

Consumer goods production was down by 0.3 per cent in September as compared to a growth of 5.7 per cent in same month last year. In April-September period of this fiscal, the growth in the segment was 2.5 per cent, compared to 4.7 per cent in the first half of last fiscal.

In all, 12 of the 22 industry groups in the manufacturing sector showed growth in August.

Consumer durables production declined by 1.7 per cent in September, compared to growth of 8.9 per cent in the same month last year.

The output of these goods registered a growth of 3.8 per cent during April-September, as against 5.3 per cent in the same period last fiscal.

The consumer non-durables output growth was 1.1 per cent in September, as against 2.7 per cent

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