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India's Industrial Output Lowers by 0.1 percent in June

The factory output, as per the new Index of Industrial Production (IIP) with revised base year of 2011-12, declined by (-)0.1% during June from a rise of 2.80% reported for May, 2017.

PTI

Updated:August 11, 2017, 11:46 PM IST
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India's Industrial Output Lowers by 0.1 percent in June
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New Delhi: Industrial output entered the negative territory in June contracting by 0.1% mainly due to decline in manufacturing and capital goods sectors.

Besides, segments like mining, power generation, infrastructure/construction goods and consumer durables recorded poor performance.

Factory output, measured in terms of Index of Industrial Production, grew 8% in June 2016, according to the data released by the Central Statistics Office on Friday.

On a quarterly basis, factory output growth during April-June slowed down to 2% from 7.1% in the corresponding period last year.

This is the first time in the current fiscal, the industrial output has shown a decline. The IIP grew by 3.4% in April and 2.8% May as per the revised estimates released on Thursday.

Manufacturing sector, which constitutes over 77% of the index, showed a decline of 0.4% in June as compared to a growth of 7.5% in the same month last year.

The output of mining and electricity sectors during the month decelerated to 0.4% and 2.1% from 10.2% and 9.8% respectively in June last year.

Capital goods output, which is the barometer of investment, declined by 6.8% from a growth of 14.8% a year ago.

Similarly, the output of primary goods and intermediate goods during the month declined by 0.2% and 0.6% as against growth of 8.2% and 6% respectively during June last year.

The Consumer durables and Consumer non-durables have recorded growth of (-) 2.1% and 4.9% respectively.

In terms of industries, 15 out of 23 industry groups in the manufacturing sector have shown negative growth during the month of June 2017 as compared to the corresponding month of the previous year.
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