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HindustanTimes Wed,27 Aug 2014

Industrial growth slips to 0.6% in February

PTI  New Delhi, April 12, 2013
First Published: 11:12 IST(12/4/2013) | Last Updated: 16:05 IST(12/4/2013)

Showing slump in the economy, the industrial growth has slipped to 0.6% in February this year mainly on account of contraction in power generation and mining output and poor performance of manufacturing sector.

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Factory output, as measured by the Index of Industrial Production (IIP), had grown by 4.3% in February last year.

For the April-February period of 2012-13 fiscal, the industrial production growth is at 0.9%, down from 3.5% in the same period of 2011-12, according to official data released here today.

Meanwhile, the decline in industrial output for January has been remained almost at a same level of provisional estimates of 2.4% released last month.

The manufacturing sector, which constitutes over 75% of the index, grew by meagre 2.2% in February, as against 4.1% in the same month of 2012.

The growth in the output of the key sector remained low at one% in April-February this fiscal, as against 3.7% growth in the same period of 2011-12.

There was a contraction of 3.2% in power output in February this year compared to a growth of 8% in the same month of 2012.

During the April-February period, electricity generation has gone up by 4%, compared to a growth of 8.7% in the same period of the 2011-12 fiscal.

The mining output in February this year too contracted by 8.1%, compared to a growth in production by 2.3% in the same month of 2012.

For the April-February period, the production in the sector showed a decline of 2.5%, against contraction of 2.1% in the year-ago period.

Overall, 13 of the 22 industry groups in manufacturing sector have shown positive growth during February.

Capital goods output grew by 9.5% in February, as against a growth of 10.5% in same month of 2012.

Capital goods output contracted in the April-February period by 7.6%, as against a dip of 1.8% in the same period of 2011-12.

The consumer goods output saw meagre growth of 0.5% in February, compared to a decline in production by 0.4% in same month last year.

In the April-February period of the last fiscal, the growth in the segment was 2.5% as compared to 4.7% in the same period of 2011-12.

The dip in the output of consumer durables stood at 2.7% in February, as compared to a contraction of 6.2% in the same month of 2012.

The growth in the output of these goods remained flat at 2.7% in April-February period of last fiscal.

The consumer non-durables output grew by 2.9% in February, compared to 4.4% in the same month last year. This segment's growth  was at 2.3% in the 11-month period of last fiscal, as against 6.4% in the previous fiscal.

The intermediate goods production also saw a dip of 0.7% in February, compared to a growth of one% in the same month last year.

During the April-February period, this segment recorded a growth of 1.5%, compared to a contraction of 0.7% in the first 11 months of 2011-12.

The basic goods output saw a contraction of 1.8% in February compared to a growth of 7.6% in the same month last year.

During April-February period of 2012-13, the production of basic goods grew by 2.3% compared to a growth of 5.9% in the 11 month period of previous fiscal.


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