India’s Industrial Output Grows 2.4% In December
Growth in industrial production in India recovered in December from a steep fall in November.
The Index of Industrial Production rose 2.4 percent in December against a 7.1 percent rise a year ago, according to data released by the Ministry of Statistics and Programme Implementation.
A Bloomberg poll of economists had projected a growth rate of 1.6 percent. Growth between April and December now stands at 4.6 percent.
- Manufacturing output expanded 2.7 percent on a yearly basis, while it dipped 0.4 percent in November.
- Mining output fell 1 percent year-on-year in December compared to 2.7 percent rise in November.
- Electricity generation rose 4.4 percent compared to 5.1 percent last month.
Output in 13 of the 23 industry groups saw positive growth. Tobacco products, manufacture of other transport equipment, and wearing apparel witnessed the highest growth. Furniture, other manufacturing, and coke and refined petroleum products saw the steepest decline.
Use-based classification of goods suggests that capital goods made a comeback in December.
- Primary goods output fell 1.2 percent in December versus 3.2 percent last month.
- Capital goods output expanded 5.9 percent after contracting 3.4 percent in the previous month.
- Output of intermediate goods contracted 1.5 percent in December compared to 4.5 percent dip in November.
- Infrastructure goods production rose 10.1 percent compared to 5 percent last month.
- Consumer durables output rose 2.9 percent compared to a 0.6 percent dip last month.
- Non-consumer durables output rose 5.3 percent compared to 0.9 percent dip last month.