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IIP Growth Slowed Down to 6.6% From 7% in June


The country's IIP (Index of Industrial Production) slowed down to 6.6 percent for the month of July from 7 percent in June. The cumulative growth for the period April-July 2018 over the corresponding period of the previous year stands at 5.4 percent.

IIP Growth Slowed Down to 6.6% From 7% in June

The index of core infrastructure industries grew by a robust 6.6 percent on a year-on-year basis despite a fall from the previous month to 7.6 percent. The manufacturing sector continued to perform well like the month before while the mining sector excluding coal remained sluggish.

The Indices of Industrial Production for the Mining, Manufacturing and Electricity sectors for the month of July 2018 stand at 95.8, 127.6 and 162.1 respectively, with the corresponding growth rates of 3.7 percent, 7.0 percent and 6.7 percent as compared to July 2017.

In terms of industries, 20 out of the 23 industry groups in the manufacturing sector have shown positive growth during the month of July 2018 as compared to the corresponding month of the previous year. The industry group 'Manufacture of furniture' has shown the highest positive growth of 42.7 percent followed by 30.8 percent in 'Manufacture of computer, electronic and optical products' and 28.4 percent in 'Manufacture of tobacco products'. On the other hand, the industry group 'Manufacture of paper and paper products' and 'Printing and reproduction of recorded media' have shown the highest negative growth of (-) 2.7 percent followed by (-) 0.9 percent in 'Manufacture of machinery and equipment n.e.c.'.

In the month of June, India's factory input grew by a 5-month high of 7 percent, much higher than 4 and 5 percent seen in the months prior to it with all the major sectors like manufacturing, mining and electricity performing well.

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