March Index of Industrial Production growth slows to 0.1%

By: | Updated: May 12, 2016 6:05 PM

According to an official release, Industrial Production index for the Mining, Manufacturing and Electricity sectors for the month of March 2016 stand at 148.8, 207.7 and 196.3 respectively, with the corresponding growth rates of (-)0.1 percent, (-)1.2 percent and 11.3 percent as compared to March 2015.

Index of Industrial Production IIP IIP growthIn terms of industries, 12 out of the 22 industry groups in the manufacturing sector have shown positive growth during March 2016 as compared to the corresponding month of the previous year. (Reuters)

The Index of Industrial Production for the month of March 2016 at 198.2, was 0.1 percent higher as compared to the level in March 2015. The cumulative growth for the period April-March 2015-16 over the corresponding period of the previous year stands at 2.4 percent.

According to an official release, Industrial Production index for the Mining, Manufacturing and Electricity sectors for the month of March 2016 stand at 148.8, 207.7 and 196.3 respectively, with the corresponding growth rates of (-)0.1 percent, (-)1.2 percent and 11.3 percent as compared to March 2015. The cumulative growth in these three sectors during April-March 2015-16 over the corresponding period of 2014-15 has been 2.2 percent, 2 percent and 5.6 percent respectively.

In terms of industries, 12 out of the 22 industry groups in the manufacturing sector have shown positive growth during March 2016 as compared to the corresponding month of the previous year.

The industry group ‘Radio, TV and communication equipment & apparatus’ has shown the highest positive growth of 36.5 percent, followed by 19.8 percent in ‘Tobacco products’ and 16.9 percent in ‘Wearing apparel; dressing and dyeing of fur’. On the other hand, the industry group ‘Electrical machinery & apparatus’ has shown the highest negative growth of (-) 36.2 percent, followed by (-) 15.0 percent in ‘Food products and beverages’ and (-) 9.9 percent in ‘Publishing, printing & reproduction of recorded media’.

As per use-based classification, the growth rates in March 2016 over March 2015 are 4 percent in basic goods, (-)15.4 percent in capital goods and 3.7 percent in intermediate good. Consumer durables and consumer non-durables have recorded growth of 8.7 percent and (-)4.4 percent respectively, with the overall growth in Consumer goods being 0.4 percent.

A few important items showing high positive growth include ‘Wood Furniture’ (77%), ‘Leather Garments’ (73%), ‘Telephone Instruments including mobile phone and accessories’ (60.2%), Tea’ (56.2%), Transformers (small) (53.8%), Cashew Kernels (31.3%), Scooter and Mopeds (25%), ‘Aluminium Conductor’ (23.8%) and ‘Commercial Vehicles’ (22.2%).

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