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April IIP Expands At 3.4%; Manufacturing Picks Up

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As per the government data released today, the Index of Industrial Production (IIP) registered a growth of 3.4% in the month of April.

IIP for the mining, manufacturing and electricity for the April month registered a growth of 5.1%, 2.8% and 6%, respectively, in comparison to the corresponding month in 2018.

April IIP Expands At 3.4%; Manufacturing Picks Up
 

In the manufacturing sector, 14 out of the 23 industry groups have registered positive growth in the month of April in comparison to the corresponding month in the year-ago period. The manufacture of wearing apparel industry group logged the highest growth of 33.6%. Then follows 'manufacture of wood and products of wood and cork, except furniture; manufacture of articles of straw and plaiting materials' with 22.6% growth and 16.3% in 'printing and reproduction of recorded media'.

Other industry groups including 'manufacture of paper and paper products', 'manufacture of fabricated metal products, except machinery and equipment' and 'manufacture of other transport equipment' registered a fall in IIP of 12.3%, 9.6% and 3.5%, respectively.

Also, factory activity registered the slowest growth in eight months time during April primarily as growth in new orders and output declined as polling for Lok Sabha elections began. The Nikkei Manufacturing Purchasing Managers' Index for April was at an eight-month low of 51.8.

GoodReturns.in

Story first published: Wednesday, June 12, 2019, 18:15 [IST]
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