Industrial production grows 3.6 per cent in Sept against 2.6 per cent year ago

By: |
Updated: November 12, 2015 7:08 PM

Annual industrial output grew at a slower-than-expected pace of 3.6 percent in September, dampened by a slower expansion in the mining sector, government data showed on Thursday.

industrial productionA survey of economists by Reuters had estimated industrial output would grow 4.7 percent in September compared with a downwardly revised 6.3 percent growth in August. (PTI)

Industrial production growth fell to four-month low of 3.6 per cent in September due to subdued performance by manufacturing and non-durable consumer goods segments.

Industrial output growth, measured in terms of the Index of Industrial Production (IIP), was also revised slightly downwards to 6.2 per cent for August from provisional estimate of 6.4 per cent released earlier.

The factory output had grown by 2.6 per cent in September last year.

Industrial output was at 4 per cent in April-September 2015 against 2.9 per cent in the year-ago period,the data released by the Central Statistics Office (CSO) today showed.

The manufacturing sector, which constitutes over 75 per cent of the index, grew by 2.6 per cent in September, 2015, against 2.7 per cent expansion in the same month last year.

The output of consumer non-durable goods contracted 4.6 per cent in the month under review against a growth of 1.3 per cent in September 2014.

The mining sector growth was at 3 per cent in September 2015 against 0.1 per cent in the same month last fiscal.

Capital goods output, a barometer of investment, grew at 10.5 per cent against a growth of 12.3 per cent in the same month last year.

Power generation grew at 11.4 per cent in September against 3.9 per cent in the same month a year ago.

In terms of industries, 11 out of 22 groups in the manufacturing sector showed positive growth in September.

Do you know What is Cash Reserve Ratio (CRR), Finance Bill, Fiscal Policy in India, Expenditure Budget, Customs Duty? FE Knowledge Desk explains each of these and more in detail at Financial Express Explained. Also get Live BSE/NSE Stock Prices, latest NAV of Mutual Funds, Best equity funds, Top Gainers, Top Losers on Financial Express. Don’t forget to try our free Income Tax Calculator tool.

Financial Express is now on Telegram. Click here to join our channel and stay updated with the latest Biz news and updates.

Next Stories
1Exports jump to USD 30.63 bn in April; trade deficit at USD 15.1 bn
2Forex reserves up by USD 1.444 bn to USD 589.465 bn
3Rates for RoDTEP likely to be announced in 2 weeks: DGFT