India's industrial output growth rate moderates to 7-month low of 3.2%

India's industrial output growth moderated to 3.2 percent in May, 2018, as compared to the same month in the previous year, due mainly to a slowing down in the manufacturing sector, official data released here today said. 

 

Industrial production had grown by 4.9% in the previous month.

 

The Quick Estimates of Index of Industrial Production (IIP) with base 2011-12 for May 2018, released here today, said the General Index for the month stood at 128.8.

 

The cumulative growth for the period April-May 2018 over the corresponding period of the previous year stood at 4.0%.

 

An official press release said the Indices of Industrial Production for the Mining, Manufacturing and Electricity sectors for May 2018 stood at 107.5, 129.1 and 164.7, respectively, with corresponding growth rates of 5.7%, 2.8% and 4.2% as compared to May 2017.

 

The cumulative growth in these three sectors during April-May 2018 over the corresponding period of 2017-18 was 4.9%, 4.0% and 3.1%, respectively.

 

The release said 13 of the 23 industry groups in the manufacturing sector showed growth during May, 2018 as compared to the corresponding month of the previous year. The industry group ‘Manufacture of computer, electronic and optical products’ showed the highest growth of 27.0%, followed by 21.1% in ‘Manufacture of motor vehicles, trailers and semi-trailers’ and 13.2% in ‘Manufacture of furniture’. 

 

On the other hand, the industry group ‘Other manufacturing’ showed the highest negative growth of (-) 31.9%, followed by (-) 15.6% in ‘Manufacture of tobacco products’ and (-) 12.8% in ‘Manufacture of wearing apparel’.

 

The release said consumer durables and consumer non-durables had recorded growth of 4.3% and (-) 2.6%, respectively.

 

NNN

 

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