Manufacturing, capital & consumer goods push IIP growth to 7.5%
- Source: dnaindia
Industrial production grew at a
high rate of 7.5% in January 2018 against 3.5% in the year-ago month
on the back of good show by manufacturing coupled with higher offtake
of consumer and capital goods.
The Index of Industrial Production
(IIP) had grown at 7.1% in December 2017, according to the data
released by the Central Statistics Office (CSO) today.
The IIP growth in January this
year was mainly on account of uptick in manufacturing sector which
constitutes 77.63% of the index. It grew by 8.7% during the month as
compared to 2.5% in January 2017, showing signs of recovery in the economy.
Capital goods, a barometer of
investments, showed a sharp increase in output by 14.6% in January,
2018 as against a decline of 0.6% year ago.
Consumer non-durable goods, which
are mainly fast moving consumer goods, too showed an increase of 10.5%
as against a growth of 9.6%. Consumer durable goods recorded a growth
rate of 8% in January 2018 against a contraction of 2% a year ago.
Retail inflation eases for second
straight month, falls down to 4.4% in February
However, the mining sector saw a
flat growth of 0.1% compared to 8.6% a year ago.
As per use-based classification,
the growth rates in January 2018 over January 2017 are 5.8% in primary
goods, 4.9% in intermediate goods and 6.8% in Infrastructure/
In terms of industries, 16 out of
23 industry groups in the manufacturing sector showed positive growth
during January, 2018.
IIP grew at 4.1% in April-January
this fiscal as compared to 5% in same period in previous financial year.