Industrial growth slipped to 5.3 per cent in the month of January, compared to 11.6 per cent in the same month last year as growth in all major sectors comprising manufacturing, electricity and mining declined.
Industrial growth, as measured by Index of Industrial Production (IIP), has moderated to 8.7 per cent in the first 10 months of the current fiscal, against 11.2 per cent during the corresponding period of the previous fiscal, according to official figures released today.
In January, all major sectors like manufacturing, mining and electricity registered a slide in production growth. In fact, consumer durables production registered a negative growth both in January and the first 10 months of this fiscal.
Output of consumer durables fell to 3.1 per cent in the first month of this calendar year, against 5.3 per cent growth in the same month last year. In the April-January period production declined to 1.7 per cent, against 10.6 per cent growth in the same period last fiscal.
Growth in manufacturing output, which has an overwhelming weight in the IIP, slipped to 5.9 per cent in January, against 12.3 per cent, electricity generation growth fell to 3.3 per cent, against 8.3 per cent and mining output growth moderated to 1.8 per cent against 7.7 per cent.
During April-January 2007-08, manufacturing output growth declined to 9.2 per cent from 12.1 per cent during the corresponding period of 2006-07.
Electricity generation growth slowed down to 6.3 per cent during the period under review, against 7.6 per cent in the same period last fiscal. Mining output growth during the 10 months declined to 4.6 the per cent against 4.8 per cent.