Industrial growth bounces back to 5.9% in November 2011

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Industrial growth bounces back to 5.9%
New Delhi, Jan 12 (PTI) Led by a recovery in manufacturing output, industrial production grew by 5.9 per cent in November, 2011, after witnessing a contraction in the previous month, a development that may reverse the negative sentiment amid an economic slowdown.

Factory output, as measured by the Index of Industrial Production (IIP), grew by 6.4 per cent in November, 2010, as per data released by the government here today. Meanwhile, the IIP figure for October, 2011, has been revised.

The latest data indicates a 4.74 per cent contraction in industrial output during the month, as against the provisional estimate of a 5.1 per cent decline in production. Output of the manufacturing sector, which constitutes over 75 per cent of the index, went up by 6.6 per cent in November, compared to a growth of 6.5 per cent in the same month of 2010.

Power generation grew by robust 14.6 per cent in November, 2011, compared to 4.6 per cent in the same month of 2010. Production of consumer goods also witnessed a 13.1 per cent upswing during the month under review, as against growth of a mere 0.7 per cent in the corresponding month of 2010.

Furthermore, consumer durables production increased by 11.2 per cent, compared to a growth of 7.2 per cent in November, 2010. During the month under review, output of consumer non-durables also went up by 14.8 per cent. The segment had declined by 4.4 per cent in November, 2010.

However, mining output declined by 4.4 per cent in November this fiscal, as against a growth of 6.9 per cent in the corresponding month a year ago.

Production of capital goods also fell by 4.6 per cent in the month under review. The segment had grown by 25.7 per cent in the corresponding month of 2010. 

PTI

Read more about: iip, economy, government, capital goods
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