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Business News » India News

Factory output bounces back in Jan, expands by 2.7%

Some important items that have registered high negative growth include 'HR Sheets', 'ship building and repairs', 'sugar', and 'PVC pipes and tubes'.

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Factory output bounces back in Jan, expands by 2.7%
IIP as a whole had contracted by 1.6% in January 2016. Photo: Reuters
Written By: PTI
Updated: Sat, Mar 11, 2017
10:15 am
New Delhi, PTI
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Industrial production bounced back in January expanding by 2.7% year-on-year mainly due to better performance by the capital goods segment, a barometer of investment activities.

The factory output, measured in terms of Index of Industrial Production (IIP), had contracted by 0.1% in December on account of cash crunch following demonetisation of high value currency notes.

The industry output had expanded by 5.53% in November. The capital goods segment grew by 10.7% in January against a contraction of 21.6% in the same month of last financial year.

The basic goods category expanded by 5.3% against 1.9% growth in January 2016. On the other hand, the intermediate goods category contracted by 2.3%. Despite quickening of remonetisation process, the consumers goods segment contracted by 1% in January. It comes over a 0.1% decline in January 2016.

In the consumer goods segment, durable items expanded by 2.9%, but non-durable contracted by 3.2%. IIP as a whole had contracted by 1.6% in January 2016. On cumulative basis, IIP during April-January 2016-17 showed an expansion of 0.6%, which was lower than 2.7% reported in the year-ago period.

The indices of industrial production for mining, manufacturing and electricity sectors posted growth rates of 5.3%, 2.3% and 3.9% respectively in January 2017. The cumulative growth in these three sectors during April-January 2016-17 was 1.4%, (-) 0.2% and 5.0%, respectively.

In total, nine out of the 22 industry groups in the manufacturing sector have shown positive growth during January 2017 on annual basis.

The industry group 'electrical machinery and apparatus' has shown the highest growth of 42.4% followed by 21.8% in 'radio, TV and communication equipment and apparatus' and 12.4 percent in 'basic metals'.

On the other hand, the industry group 'office, accounting and computing machinery' has shown the highest negative growth of 16% followed by 14.8% in 'food products and beverages' and 13.4% in 'other transport equipment'.

Some important items that have registered high negative growth include 'HR Sheets', 'ship building and repairs', 'sugar', and 'PVC pipes and tubes'.

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TAGS:
Index of Industrial Production (IIP)IIP data in JanuaryDemonetisationDemonetisation impact on IIPEconomyFactory OutputIndustry Output in January
RELATED NEWS
IIP Data: Factory output revives in Dec 2018 - Check what all drove India's Industrial Production growth IIP Data: Factory output revives in Dec 2018 - Check what all drove India's Industrial Production growth
Shocking! Factory output in India comes at just 0.5% in November; this is what hurt country's IIP Shocking! Factory output in India comes at just 0.5% in November; this is what hurt country's IIP
CPI September print a positive surprise, says ICICI Bank honcho; IIP August data as expected CPI September print a positive surprise, says ICICI Bank honcho; IIP August data as expected
Industrial output: June IIP growth hits five-month high of 7 pct Industrial output: June IIP growth hits five-month high of 7 pct
Core sector growth slows to 4% in Dec Core sector growth slows to 4% in Dec

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