GET Stock QuotesNews18 APP
News18 English
cricketnext
»
1-min read

IIP Takes a Hit for 2nd Month in Row, Let Down by Manufacturing and Mining

Remaining in the negative for the second month in a row, industrial production contracted by 0.7 percent in August due to slump in manufacturing, mining and capital goods segments.

Press Trust Of India

Updated:October 10, 2016, 7:24 PM IST
facebookTwittergoogleskypewhatsapp
IIP Takes a Hit for 2nd Month in Row, Let Down by Manufacturing and Mining
The factory output contracted by 0.7 percent in August due to slump in manufacturing, mining and capital goods segments. (FILE PHOTO: GETTY IMAGES)

New Delhi: Remaining in the negative for the second month in a row, industrial production contracted by 0.7 percent in August due to slump in manufacturing, mining and capital goods segments.

The factory output, measured by movement in Index of Industrial Production (IIP), had slipped to an eight-month low of (-)2.49 (revised) in July on account of declining output in manufacturing and capital goods sectors.

The IIP slump in August is lower than July.

On cumulative basis, the factory output in April-August contracted by 0.3 percent, compared to growth of 4.1 percent in the year-ago period.

The official data released today showed the manufacturing sector, which constitutes over 75 percent of the IIP index, contracted by 0.3 percent in August as against 6.6 percent expansion in the same month last year.

The capital goods output registered a steep decline of 22.2 percent in the month, against a growth rate of 21.3 percent in last year.

The data revealed that mining activities shrunk by 5.6 as in August this year as against a growth of 4.5 in August 2015.

Power generation remained almost flat (0.1 percent) in compared to an expansion of 5.6 percent in the year ago period.

Output of consumer durables registered a growth of 2.3 percent while growth in non-durables segment was almost flat.

Overall, consumer goods production recorded a growth 1.1 percent in August compared to 6 percent a year ago.

In terms of industries, seven out of 22 industry groups in the manufacturing sector have shown negative growth during August year-on-year.

Some important items showing high negative growth during the current month include cable, rubber insulated, sugar machinery, woollen carpets, gems and jewellery, and rice.

Some important items that have registered high positive growth include fruit pulp, air conditioner, instant food mixes, ship building and repairs, scooter and mopeds, stainless/alloy steel and boilers.

Read full article
Next Story
facebookTwittergoogleskypewhatsapp
Most Active
Company Price Change %Gain
Infosys 875.40 +2.00 +0.23
Fortis Health 141.55 -2.15 -1.50
YES BANK 1,712.90 -3.80 -0.22
Rel Capital 744.45 -31.00 -4.00
HPCL 449.70 +15.90 +3.67
Company Price Change %Gain
Infosys 877.15 +3.65 +0.42
Fortis Health 141.65 -1.85 -1.29
Kotak Mahindra 969.90 +0.60 +0.06
SBI 274.10 -0.55 -0.20
Rel Capital 744.35 -30.80 -3.97
Top Gainers
Company Price Change %Gain
Dr Reddys Labs 1,984.15 +53.05 +2.75
BPCL 510.35 +12.60 +2.53
IOC 423.20 +10.00 +2.42
Lupin 944.40 +21.00 +2.27
Sun Pharma 470.45 +9.90 +2.15
Company Price Change %Gain
Dr Reddys Labs 1,984.85 +51.70 +2.67
Lupin 944.25 +21.45 +2.32
Sun Pharma 470.85 +10.30 +2.24
ONGC 159.30 +1.75 +1.11
Axis Bank 499.15 +5.00 +1.01
Top Losers
Company Price Change %Gain
NTPC 167.70 -4.30 -2.50
Hero Motocorp 3,888.05 -84.00 -2.11
Eicher Motors 30,977.15 -657.10 -2.08
Bank of Baroda 139.35 -2.75 -1.94
Indiabulls Hsg 1,176.35 -22.35 -1.86
Company Price Change %Gain
NTPC 167.45 -4.40 -2.56
Hero Motocorp 3,885.30 -82.30 -2.07
Bajaj Auto 2,740.50 -30.10 -1.09
TCS 2,500.00 -21.40 -0.85
Larsen 1,119.25 -7.25 -0.64

Live TV