Manufacturing decelerates India's November industrial output growth rate

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New Delhi (IANS): Lower production in the manufacturing sector sharply decelerated India's industrial output growth rate to 0.5 per cent in November from a rise of 8.4 per cent in October and 8.5 per cent during the corresponding period of the previous fiscal.

According to the Central Statistics Office (CSO), the output rate of the manufacturing sector fell by (-) 0.4 per cent in November from a year-on-year rise of 10.4 per cent.

"The 'Quick Estimates of Index of Industrial Production' (IIP) with base 2011-12 for the month of November 2018 stands at 126.4, which is 0.5 per cent higher as compared to the level in the month of November 2017," the CSO said in a statement. 

"The cumulative growth for the period April-November 2018 over the corresponding period of the previous year stands at 5 per cent."

On a YoY basis, mining production edged-up by 2.7 per cent and the sub-index of electricity generation increased by 5.1 per cent.

Among the six use-based classification groups, the output of primary goods which has the highest weightage of 34.04 grew by 3.2 per cent. The output of intermediate goods, which has the second highest weightage, fell by (-) 4.5 per cent.

Similarly, output of consumer non-durables inched lower by (-) 0.6 per cent and that of consumer durables by (-) 0.9 per cent.

In addition, output of infrastructure or construction good increased by 5 per cent and that of capital goods by (-) 3.4 per cent.

"In terms of industries, ten out of the twenty three industry groups in the manufacturing sector have shown positive growth during the month of November 2018 as compared to the corresponding month of the previous year," the statement said. 

"... The industry group 'Manufacture of fabricated metal products, except machinery and equipment' has shown the highest negative growth of (-) 13.4 per cent followed by (-) 9.6 percent in 'Manufacture of electrical equipment' and (-) 7.3 in 'Other manufacturing'."

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