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India's factory output growth eases in May 2019

Even on a year-on-year basis, May's industrial production growth of 3.1 per cent was lower than the 3.8 per cent achieved during the corresponding month of the previous fiscal.

Published: 12th July 2019 07:13 PM  |   Last Updated: 13th July 2019 08:33 AM   |  A+A-

Labourers load steel rods onto a truck at a steel factory on the outskirts of Jammu July 12, 2012. (File | Reuters)

Labourers load steel rods onto a truck at a steel factory on the outskirts of Jammu July 12, 2012. (File | Reuters)

By Express News Service

NEW DELHI: The subdued performance of mining and manufacturing sectors dragged down growth in industrial output to 3.1 per cent in May 2019, against 3.8 per cent growth in May last year.

While the mining sector witnessed a mere 3.2 per cent in May 2019, against 5.8 per cent in the same month last fiscal, the growth in the manufacturing sector was pegged at 2.5 per cent during the month under review, down from 3.6 per cent a year ago.

READ HERE | Retail inflation rises marginally to 3.18 per cent in June

However, the power generation grew at 7.4 per cent in May, against 4.2 per cent in the same month last year. As per the Central Statistics Office (CSO) data, the capital goods output, which is a barometer of investment, grew at 0.8 per cent compared to 6.4 per cent in May last year. As per use-based classification, the growth rates in May 2019 over the same month last year are 2.5 per cent in primary goods, 0.6 per cent in intermediate goods and 5.5 per cent in infrastructure/ construction goods.

The consumer durables and consumer non-durables have recorded growth of - 0.1 per cent and 7.7 per cent, respectively. In terms of industries, 12 out of the 23 industry groups in the manufacturing sector have shown positive growth in May 2019 on year.

The industry group ‘Manufacture of wood and products of wood and cork, except furniture; manufacture of articles of straw and plaiting materials’ have shown the highest positive growth of 24.8 per cent followed by 15.9 per cent in ‘Manufacture of food products’ and 9.4 per cent in ‘Manufacture of computer, electronic and optical products’.

(With PTI inputs)

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