India's Factory Output Growth Slows in May

The manufacturing sector, which has the maximum weightage in the IIP, grew by 3.2 percent between April and May.

Published: 10th July 2015 07:04 PM  |   Last Updated: 10th July 2015 07:04 PM   |  A+A-

By IANS

NEW DELHI: A retarded growth in manufacturing output slowed India's overall industrial production expansion to 2.7 percent for May, against 4.1 percent in April, official data showed on Friday.

As per the quick estimates of the Index of Industrial Production (IIP) released by the Central Statistical Office (CSO), the growth in manufacturing output fell from 5.1 percent in April and 5.9 percent in May 2014 to 2.2 percent in the month under review. 

The manufacturing sector, which has the maximum weightage in the IIP, grew by 3.2 percent between April and May. The mining and electricity output expanded by 2.8 percent and 6 percent respectively. 

The performance of mining and electricity sectors was subdued in April. The mining sector inched up by 0.6 percent while electricity segment slipped by 0.5 percent in April.

The cumulative growth for the first two months of this fiscal was 3 percent. In April, when the overall industrial output had expanded by 4.1 percent, industry saw it as emerging greenshoots of economic recovery, especially since the expansion was led by manufacturing.

"In terms of industries, 12 out of the 22 industry groups in the manufacturing sector have shown positive growth during May 2015 as compared to the corresponding month the previous year," an official statement said.

Going into further classification, the growth in May 2015 was 6.4 percent in basic goods, 1.8 percent in capital goods and 1.2 percent in intermediate goods. But outputs of consumer durables and consumer non-durables declined by 3.9 percent and 0.1 percent respectively.

Stay up to date on all the latest Business news with The New Indian Express App. Download now
(Get the news that matters from New Indian Express on WhatsApp. Click this link and hit 'Click to Subscribe'. Follow the instructions after that.)

Comments

Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the newindianexpress.com editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on newindianexpress.com are those of the comment writers alone. They do not represent the views or opinions of newindianexpress.com or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. newindianexpress.com reserves the right to take any or all comments down at any time.

flipboard facebook twitter whatsapp