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

Low Manufacturing Output Pulls Down May IIP Growth to 1.7 Percent

According to the data released by the Central Statistics Office, the factory output growth for April-May period decelerated to 2.3 percent from 7.3 percent in the same period last fiscal.

PTI

Updated:July 12, 2017, 7:06 PM IST
facebookTwittergoogleskypewhatsapp
Low Manufacturing Output Pulls Down May IIP Growth to 1.7 Percent
Representative image.
Loading...
New Delhi: Industrial output growth slumped to 1.7 percent in May from 8 percent a year-ago due to poor performance of mining and manufacturing, and may put pressure on the RBI to cut interest rate in its policy next month.

The factory output growth, measured on the Index of Industrial Production (IIP), for April-May period decelerated to 2.3 percent from 7.3 percent in the same period last fiscal, as per the data released by the Central Statistics Office.

The data further revealed that output of the capital goods segment, considered as key indicator of investment, shrunk by 3.9 percent compared to a high growth of 13.9 percent recorded in May 2016.

The consumer durables segment too witnessed a decline. While mining sector output declined by 0.9 percent in May against 5.7 percent growth in the year-ago month, the growth of manufacturing sector slowed to 1.2 percent from 8.6 percent in the same month last year.

However, electricity generation expanded by 8.7 percent in May as against 6.1 percent growth in the corresponding period last year.

The Reserve Bank, which is slated to announce its bi-monthly monetary policy later next month, has kept the interest rate on hold citing risks to inflation.

The government has been pressing on the RBI for a cut in interest rates to increase private investment. Industry too has been persistently demanding rate cut to boost investments.
Read full article
Loading...
Next Story
Next Story

Also Watch

facebookTwittergoogleskypewhatsapp
Most Active
Company Price Change %Gain
Jet Airways 341.45 6.40
Yes Bank 190.25 -7.58
Reliance 1,125.45 2.61
ICICI Bank 367.25 -0.74
HDFC Bank 2,002.70 1.39
Company Price Change %Gain
Jet Airways 341.65 6.45
Mindtree 840.00 0.16
Yes Bank 190.50 -7.52
HDFC 1,880.60 1.53
Reliance 1,125.00 2.56
Top Gainers
Company Price Change %Gain
Bharti Airtel 331.50 8.90
Grasim 831.15 2.78
Reliance 1,125.15 2.58
Eicher Motors 24,544.95 2.50
HCL Tech 1,010.75 2.23
Company Price Change %Gain
Bharti Airtel 331.75 9.20
Reliance 1,125.20 2.58
SBI 290.10 1.68
HDFC 1,881.00 1.55
Hero Motocorp 2,952.80 1.22
Top Losers
Company Price Change %Gain
Yes Bank 190.05 -7.68
Indiabulls Hsg 763.65 -5.12
HPCL 241.50 -3.05
Tata Steel 571.90 -2.96
JSW Steel 334.45 -2.95
Company Price Change %Gain
Yes Bank 190.65 -7.45
Tata Steel 572.35 -2.77
ONGC 155.60 -2.08
Maruti Suzuki 7,323.00 -2.14
Infosys 647.45 -1.36

Live TV

Loading...
Loading...