India Factory Output Declines
World Economy

India Factory Output Declines

India’s factory output declined again in December by minus 1.3% but was somewhat better than the minus 3.42% dip registered in the month before, official data showed. There was a growth of 3.6% in December 2014.
As per data on index of industrial production released by the Central Statistics Office, the cumulative growth of the country’s factory output logged a 3.1% rise in the first nine months of the current fiscal year, PTI reported.
Cumulative growth during the corresponding period of last fiscal stood at 2.6%.  
December IIP was dragged lower by a minus 2.4% drop in manufacturing activity. Between the other broader indices, electricity production rose by 3.2%, while that for mining was up by 2.9%.
The cumulative growth of the electricity and mining indices for the first nine months of the current fiscal was 4.5% and 2.3%, respectively. Manufacturing’s cumulative growth stood at 3.1%.
In addition, the data revealed that among the six use-based classifications of the index, the output of consumer durables segment expanded by 16.5% in December. The consumer goods segment accelerated by 2.8%.
However, capital goods segment, which is a key indicator of economic activity plunged by minus 19.7%. The output of consumer non-durables was lower by minus 3.2%.
The basic and intermediate goods’ output inched-up by 0.5% and 0.9%, respectively.
Overall, only 10 out of the 22 industry groups in the manufacturing sector have shown negative growth during the month under review.
Segment-wise, growth was witnessed in woolen carpets (184.1%), telephone instruments including mobile phone and accessories (141.1%), ammonium phosphate (46.8%), wood furniture (36.9%), commercial vehicles (28.7%) and gems and jewelry (27.1%).
Moreover, high negative growth was reported in the cable, rubber insulated (- 85.2%), heat exchanger (- 68.8%), cement machinery (- 60.2%), grinding wheels (- 37.4%), boilers (- 22.7%) and sponge iron (- 22.5%).


Short URL : https://goo.gl/687r9w
  1. https://goo.gl/mT752T
  • https://goo.gl/h6y73k
  • https://goo.gl/iqoBLZ
  • https://goo.gl/IM2Ngl
  • https://goo.gl/fOF5oB

You can also read ...

Saudi Arabia Bleeds as Capital Flight Continues
As Saudi Arabia raises the stakes in its dispute with Canada...
Experts Say China Economy Manageable
Recent external pressures, a general global trade malaise...
 Final Nail in Abraaj Coffin
The Abraaj Group has been put through the ringer in past...
Qatar Pledges $15b Investment :      Turkish Lira Weakens 6% on Threat of More US Sanctions
Turkey’s battered lira weakened more than 6% against the...
Europe Should Resist Illegal US Penalties
European countries should take effective steps to counter US...
Australia Drought Could Cost $12 Billion
The Reserve Bank of Australia and a new report have warned of...
Indonesia Sets Moderate Growth Goals
Amid rising external pressures, Indonesia’s economy is...
 Crypto Scams on the Rise in UK
Crypto currency scams are using images of celebrities and...