Friday, 13 February 2015

India IIP Growth Falls To 1.7% In Dec From 3.8% In Nov

The General Index for the month of December 2014 stands at 182.6, which is 1.7% higher as compared to the level in the month of December 2013. After touching a five-month high of of 3.8% in November 2014, India's industrial production eased to 1.7 per cent in December, 2014, as per a government data released on Thursday. "The General Index for the month of December 2014 stands at 182.6, which is 1.7% higher as compared to the level in the month of December 2013. The cumulative growth for the period April-December 2014-15 over the corresponding period of the previous year stands at 2.1%," an official statement said. The Indices of Industrial Production for the Mining, Manufacturing and Electricity sectors for the month of December 2014 stand at 131.6, 192.9 and 177.6 respectively, with the corresponding growth rates of (-) 3.2%, 2.1% and 4.8% as compared to December 2013 (Statement I).
 The cumulative growth in the three sectors during April-December 2014-15 over the corresponding period of 2013-14 has been 1.7%, 1.2% and 10.0% respectively. In terms of industries, thirteen (13) out of the twenty two (22) industry groups (as per 2-digit NIC-2004) in the manufacturing sec tor have shown positive growth during the month of December 2014 as compared to the corresponding month of the previous year (St atement II). The industry group 'Furniture; manufacturing n.e.c.' has shown the highest positive growth of 45.4%, followed by 17.6% in 'Wearing apparel; dressing and dyeing of fur' and 16.7% in 'Luggage, handbags, saddlery, harness & footwear; tanning and dressing of leather products'. On the other hand, the industry group 'Radio, TV and communication equipment & apparatus' has shown the highest negative growth of (-) 70.4%, followed by (-) 34.0% in 'Office, accounting & computing machinery' and (-) 11.1% in 'Medical, precision & optical instruments, watches and clocks'. As per Use-based classification, the growth rates in December 2014 over December 2013 are 2.4% in Basic goods, 4.1% in Capital goods and 0.1% in Intermediate goods (Statement III). The Consumer durables and Consumer non-durables have recorded growth of (-) 9.0% and 5.7% respectively, with the overall growth in Consumer goods being 0.7%. Some of the important items showing high positive growth during the current month over the same month in previous year include 'Polythene bags including HDPE & LDPE bags' (239.0%), 'H R Sheets' (164.3%), 'Conductor, Aluminium' (132.9%), 'Gems and Jewellery' (81.8%), 'Pens of all kind' (47.7%), 'Leather Garments' (38.9%), 'Scooter and Mopeds' (27.9%), 'Fasteners (excluding Zip-Fasteners)' (26.9%), 'Plastic Machinery including Moulding Machinery' (24.7%) and 'Air Conditioner (Room)' (20.5%). Some of the other important items showing high negative growth are: 'Telephone Instruments (incl. Mobile Phones & Accessories)' [(-) 80.1%], 'Ship Building & Repairs' [(-) 52.3%], 'Sugar Machinery' [(-) 48.6%], 'Tractors (complete)' [(-) 42.6%], 'Computers' [(-) 36.0%], 'Glass Sheet' [(-) 31.6%], 'Colour TV Sets' [(-) 26.6%], 'Wood Furniture' [(-) 26.5%], 'Steel Structures' [(-) 24.3%] and 'PVC Pipes and Tubes' [(-) 22.2%].

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