Friday, Mar 29 2024 | Time 19:04 Hrs(IST)
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Business Economy


Industrial production contracts 4.3 per cent in Sept

New Delhi, Nov 11 (UNI) Industrial production contracted 4.3 per cent in September as compared to the level in the same month last year, according to government data released on Monday.
The cumulative growth for the period April-September 2019 over the corresponding period of the previous year stands at 1.3 per cent, the Ministry of Statistics and Programme Implementation said.
This poor show of numbers can be attributed to dismal performance of manufacturing sector which accounts for over three fourth of the entire index.
The Indices of Industrial Production for the Mining, Manufacturing and Electricity sectors for the month of September 2019 stood at the growth rates of (-) 8.5 per cent, (-) 3.9 per cent and (-) 2.6 per cent respectively as compared to the same month last year.
In terms of industries, 17 out of the 23 industry groups in the manufacturing sector have shown negative growth during September 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 per cent followed by (-) 23.6 per cent in ‘Manufacture of furniture’ and (-) 22.0 per cent 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 per cent followed by 9.2 per cent 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 per cent in Capital goods, 7.0 per cent in Intermediate goods and (-) 6.4 per cent in Infrastructure/ Construction Goods.
The Consumer durables and Consumer non-durables have recorded growth of (-) 9.9 per cent and (-) 0.4 per cent respectively.
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