Industrial production grows at 2.4% in December 2018


On account of contraction in the mining segment and poor show by the manufacturing sector Industrial output growth remained at 2.4% in December 2018

Factory output as measured in terms of the Index of Industrial Production (IIP) had grown by 7.3% in December 2017, according to the data released by the Central Statistics Office (CSO) on February 12.

During April-December 2018, industrial output grew at 4.6% against 3.7% in the same period of the previous fiscal.

The manufacturing sector, which constitutes 77.63% of the index, recorded a low growth of 2.7% in December as against 8.7% expansion in the year-ago month.

Mining sector production contracted by 1% in December as against 1.2% growth in December 2017.

The growth of the power sector output remained flat at 4.4% in December 2018.

Capital goods output grew at 5.9%, compared to 13.2% growth a year ago. Consumer durables output grew by 2.9% as against a growth of 2.1% in December 2017. Consumer non-durable goods growth was also low at 5.3% in December 2018 as compared to 16.8% growth in the year-ago month.

In terms of industries, 13 out of 23 industry groups in the manufacturing sector showed positive growth during December 2018.

As per use-based classification, primary goods production did decline by 1.2% and intermediate goods by 1.5%.

Infrastructure/ Construction Goods increase to 10.1%.