November IIP at 5.9% vs -5.1% in Oct

Posted By: Religare
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November IIP at 5.9% vs -5.1% in Oct
In a major relief to the ailing Indian economy, the country's Index of Industrial Production (IIP) for the month of November drastically surged to 5.9 per cent in contrast to a decline of 5.1 per cent in October.

The data has recorded a sharp rise of 10 per cent on the back of better performances in the Mining, Manufacturing and Electricity sectors.

The industrial production for the mining expanded by 6.6 per cent for the month of November. In the manufacturing sector, which contributes over 75 per cent of overall index of industrial production output, growth accelerated up to 14.6 per cent.

Besides, the surge in overall IIP was also led by some of the important items of consumer goods, such as woolen items showing high positive growth during the current month and thus contributing to the growth of the overall index for the month.

The cumulative growth for the period April-November 2011-12, however, stood at 3.8 per cent over the corresponding period of the previous year.

Dion Global Solutions Ltd

Read more about: iip, economy, mining, manufacturing
Story first published: Thursday, January 12, 2012, 23:31 [IST]
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