Udayavni Special

Industrial production grows at 3.2 pc in May


Team Udayavani, Jul 13, 2018, 5:50 PM IST

New Delhi: Industrial production growth slipped to a seven-month low of 3.2% in May mainly due sluggish performance of manufacturing and power sectors coupled with poor offtake of fast moving consumer goods (FMCG).

Factory output growth measured in terms of the Index of Industrial Production (IIP) was revised down to 4.8% in April from previous estimates of 4.9%, according to the data released by the Central Statistics Office (CSO) on Thursday. 

The IIP had expanded by 2.9% in May last year. The previous low of industrial production growth was 1.8% in October 2017.

During April-May this fiscal, the IIP recorded a growth of 4.4% as compared with to 3.1% in the same earlier year period year ago. 

The manufacturing sector, which constitutes 77.63% of the index, grew by just 2.8% in May, marginally up from 2.6% in the corresponding period last year. 

Power generation growth decelerated sharply to 4.2% during the month as compared with a high of 8.3% the year earlierago. 

The mining sector output recorded an impressive growth of 5.7% in May as against 0.3% in May last year. 

The FMCG sector was the worst performer among the user based goods segment with as its output declining declined by 2.6% as against a growth of 9.7% ago. 

As per use-based classification, the growth rates in May 2018 over May 2017 are 5.7% in primary goods, 7.6% in capital goods, 0.9% in intermediate goods and 4.9% in infrastructure/construction goods. The consumer durables and have recorded growth of 4.3 per cent in the month under review.

Industry group ‘manufacture of computer, electronic and optical products’ has shown the highest positive growth of 27%, 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’ has shown the highest negative growth of (-) 31.9% followed by (-) 15.6% in ‘manufacture of tobacco products’ and (-) 12.8% in ‘manufacture of wearing apparel, it said. 

In terms of industries, 13 out of 23 industry groups in the manufacturing sector have shown positive growth during May 2018 as compared with the corresponding month of the previous year, said an official release. 

Udayavani is now on Telegram. Click here to join our channel and stay updated with the latest news.

Top News

Why are you so scared of saffron: Raghupathi Bhat questions Siddaramaiah

Guj: 2 killed in fire in Surat packaging unit; over 70 rescued

State govt lifts curbs at MM Hills pilgrimage centre

Udupi: Children get Covid shots only if adults are vaccinated

Twin peaks: Sensex crosses 61,800, Nifty at record 18,460

A model govt. school for every gram panchayat on cards

Army chopper crash: Co-pilot’s body found after two months from dam in Jammu and Kashmir

Related Articles More

Rupee trades almost flat at 75.28 against USD in opening deals

Twin peaks: Sensex crosses 61,800, Nifty at record 18,460

FinMin to seek Cabinet nod for setting up company to monetise land assets of privatisation-bound CPSEs

India has right to 30% stake in Iranian gas field even after contract to local firm

Gold ETFs attract Rs 446-cr in Sep; inflow may continue in coming months on festive season demand

MUST WATCH

Raw Banana Flour | BAKAHU Shavige Preparation

Gowli Traditional Dance Performence at Dandeli

Mysore Dasara 2021 : Farewell to Dasara Elephants

Benefits of paddy farming

UDAYAVANI NEWS BULLETIN|17/10/2021


Latest Additions

Farmers block train traffic in Punjab as part of ‘rail roko’ stir over Lakhimpur incident

Pooja Bedi tests positive for COVID-19, says staying unvaccinated her ‘personal decision’

Rupee trades almost flat at 75.28 against USD in opening deals

Why are you so scared of saffron: Raghupathi Bhat questions Siddaramaiah

Prominent personalities appeal to Bangla PM to take action against those vandalised Durga Puja pandals

Thanks for visiting Udayavani

You seem to have an Ad Blocker on.
To continue reading, please turn it off or whitelist Udayavani.