Amid slowdown, Industrial Output declines by 4.3% in September

New Delhi (NVI): In the continuing negative trend in Indian economy, the Industrial output was recorded at 123.3 in September this year, 4.3% lower from last year in the same month. The cumulative growth for the period April-September 2019 over the corresponding period of the previous year stands at only 1.3%, official sources said.

The Indices of Industrial Production for the Mining, Manufacturing and Electricity sectors for the month of September 2019 stand at 86.5, 126.5 and 158.7 respectively, with the corresponding growth rates of (-) 8.5 percent, (-) 3.9 percent and (-) 2.6 percent as compared to September 2018.

The cumulative growth in these three sectors during April-September 2019 over the corresponding period of 2018 has been 1.0 percent, 1.0 percent and 3.8 percent respectively.

In terms of industries, seventeen out of the twenty three industry groups (as per 2-digit NIC-2008) in the manufacturing sector have shown negative growth during the month of September 2019 as compared to the corresponding month of the previous year.

The industry group ‘Manufacture of motor vehicles, trailers and semi-trailers’ has shown the highest negative growth of (-) 24.8 percent followed by (-) 23.6 percent in ‘Manufacture of furniture’ and (-) 22.0 percent in ‘Manufacture of fabricated metal products, except machinery and equipment’.

On the other hand, the industry group ‘Manufacture of wood and products of wood and cork, except furniture; manufacture of articles of straw and plaiting materials’ has shown the highest positive growth of 15.5 percent followed by 9.2 percent in ‘Manufacture of basic metals.’

As per Use-based classification, the growth rates in September 2019 over September 2018 are (-) 5.1 percent in Primary goods, (-) 20.7 percent in Capital goods, 7.0 percent in Intermediate goods and (-) 6.4 percent in Infrastructure and Construction Goods.

The Consumer durables and Consumer non-durables have recorded growth of (-) 9.9 percent and (-) 0.4 percent respectively.

Details of item groups exhibiting larger variations in production in absolute terms and weighted terms.

-sb