Take the pledge to vote

For a better tommorow#AajSawaroApnaKal
  • I agree to receive emails from News18

  • I promise to vote in this year's elections no matter what the odds are.
  • Please check above checkbox.

    SUBMIT

Thank you for
taking the pledge

Vote responsibly as each vote counts
and makes a diffrence

Disclaimer:

Issued in public interest by HDFC Life. HDFC Life Insurance Company Limited (Formerly HDFC Standard Life Insurance Company Limited) (“HDFC Life”). CIN: L65110MH2000PLC128245, IRDAI Reg. No. 101 . The name/letters "HDFC" in the name/logo of the company belongs to Housing Development Finance Corporation Limited ("HDFC Limited") and is used by HDFC Life under an agreement entered into with HDFC Limited. ARN EU/04/19/13618
LIVE TV DownloadNews18 App
News18 English
»
1-min read

Note-Ban Impact: IIP Contracts to 4-Month Low of 0.4% in December

Impacted by demonetisation, industrial production contracted to four-month low of 0.4 per cent in December with consumer durables output plummeting by over 10 per cent and an overall decline in manufacturing.

Press Trust Of India

Updated:February 10, 2017, 7:48 PM IST
facebookTwitterskypewhatsapp
Note-Ban Impact: IIP Contracts to 4-Month Low of 0.4% in December
A man drives a cart mounted on a camel past an under construction residential complex. (Representative image)
Loading...

New Delhi: Impacted by demonetisation, industrial production contracted to four-month low of 0.4 per cent in December with consumer durables output plummeting by over 10 per cent and an overall decline in manufacturing.

The decline in factory output comes over contraction of 0.9 per cent in December 2015. It reflect deterioration in the manufacturing sector on account of cash crunch following scrapping of the Rs 500/1000 notes on November 8, 2016.

The industrial output was 5.7 per cent in November and did not capture the impact of demonetisation.

Factory output measured in terms of Index of Industrial Production (IIP) in December declined on account of 2 per cent contraction in manufacturing sector, as against 1.9 per cent decline a year ago.

According to data released by the Central Statistics Office on Friday, the previous low was a contraction of 0.7 per cent in August.

During the April-December period of the current fiscal, IIP growth remained almost flat at 0.3 per cent compared to 3.2 per cent growth in the nine month period of 2015-16.

Output of consumer durables segment - TVs, refrigerators and washing machines - declined by 10.3 per cent during the month under review from robust growth of 16.6 per cent reflecting the impact of currency crunch.

The consumer non-durable mainly including FMCG items too contracted by 5 per cent in December, as against a contraction of 2.7 per cent year ago.

Overall consumer goods output showed a contraction of 6.8 per cent compared to growth of 3.2 per cent in December 2015.

Capital goods segment, barometer of investments, declined by 3 per cent as against 18.6 per cent decline in December 2015.

As per use-based classification, the growth rates are 5.3 per cent in Basic goods and (-)1.2 per cent in Intermediate goods.

However, the power generation showed a growth of 6.3 per cent in December compared to 3.2 per cent in the same month a year. The mining output also grew by 5.2 per cent in December compared to 2.8 per cent in the same month year ago.

Overall, 17 out of 22 industry groups in the manufacturing sector have shown negative growth in December.

| Edited by: Ananya Chakraborty
Read full article
Loading...
Next Story
Next Story

Also Watch

facebookTwitterskypewhatsapp
 
 

Live TV

Loading...
Countdown To Elections Results
  • 01 d
  • 12 h
  • 38 m
  • 09 s
To Assembly Elections 2018 Results