A sharp decline in mining and power sectors slowed down industrial growth during May 2006 to 10 per cent as against 10.8 per cent in the same month of the last financial year.
But the manufacturing sector retained its momentum to grow with the same rate of 11.3 per cent during the second month of 2006-07, compared to the year-ago month, according to the data released by the Central Statistical Organisation on Wednesday.
Mining sector growth declined to 3.0 per cent as against 5.2 per cent in May 2005, while electricity plunged to a mere 4.7 per cent growth from a strong 10.5 per cent in May 2005.
The strong performance in manufacturing sector pulled the overall Index of Industrial Production marginally up to 9.8 per cent during April-May of the current fiscal as compared to 9.5 per cent in the corresponding period of 2005-06.
Manufacturing shot up by 10.9 per cent in April-May this fiscal from 10.3 per cent last fiscal. Electricity growth was lower at 5.3 per cent compared to 6.7 per cent and mining production rose by only 3.2 per cent as against 4.0 per cent in the same period of last fiscal.