India's factory output expands by 1.2% in July

13 Sep 2017 Evaluate

India's industrial output expanded by 1.2% in the month of July 2017, as compared to the growth of 4.5% in the same period last year, while it had contracted by 0.1% in the month of June 2017. The mining and electricity showed good performance during the period, but capital goods output declined in the month of August. Manufacturing sector, which constitutes over 77% of the index, showed a growth of 0.1% in July as compared to a growth of 5.3% in the same month last year. The output of mining and electricity sectors during the month accelerated to 4.8% and 6.5% from 0.9% and 2.1% respectively in June last year.

As per the data released by the Central Statistics Office of the Ministry of Statistics and Programme Implementation, IIP with base 2011-12 for the month of July 2017, stood at 118.2, which is 1.2% higher as compared to the level in the month of July 2016. The cumulative growth for the period April-July 2017 over the corresponding period of the previous year stood at 1.7%. The Indices of Industrial Production for the Mining, Manufacturing and Electricity sectors for the month of July 2017 were at 92.6, 119.5 and 151.8 respectively. The cumulative growth in these three sectors during April-July 2017 over the corresponding period of 2016 has been 2.1%, 1.3% and 5.6% respectively.

Capital goods output, which is the barometer of investment, declined 1% from a growth of 8.8% a year ago and (-) 6.8% fall last month. As per Use-based classification, the growth rates in July 2017 over July 2016 are 2.3% in Primary goods, (-) 1.8% in Intermediate goods and 3.7% in Infrastructure/ Construction Goods. The Consumer durables and Consumer non-durables have recorded growth of (-) 1.3% and 3.4% respectively.

In terms of industries, 8 out of the 23 industry groups in the manufacturing sector have shown positive growth during the month of July 2017 as compared to the corresponding month of the previous year. The industry group ‘Other manufacturing’ has shown the highest positive growth of 20.9% followed by 18.9% in ‘Manufacture of pharmaceuticals, medicinal chemical and botanical products’ and 10.5% in ‘Manufacture of other transport equipment’. On the other hand, the industry group ‘Manufacture of tobacco products’ has shown the highest negative growth of (-) 43.4% followed by (-) 11.1% in ‘Manufacture of electrical equipment’ and (-) 8.8% in ‘Printing and reproduction of recorded media’.

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