Industrial production down 3.2%, inflation up for fifth straight month
India’s industrial production registered a 3.2% decline in November last year as compared to the corresponding period of 2014, a government data said on Tuesday. The contraction was mainly due to a sharp decline in the manufacturing sector, which constitutes over 75% of the index. The sector’s output shrank by 4.4% in November 2015 as against a growth of 4.7% in the same month last year. The capital goods output also shrank by 24.4% in November 2015 compared to a growth of 7% in the corresponding month of previous year. Though the Index of Industrial Production (IPP) had expanded by 5.2% in November 2014, the cumulative growth for the period April-November 2015 over the corresponding period of the previous year stood at 3.9%. “The indices of industrial production for the mining, manufacturing and electricity sectors for the month of November 2015 stand at 131.5, 171.9 and 175.6 respectively, with the corresponding growth rates of 2.3%, - 4.4% and 0.7% as compared to November 2014,” Ministry of Statistics & Programme Implementation said in a statement. The cumulative growth in April-November 2015over the corresponding period of 2014 in these three sectors was 2.1%, 3.9% and 4.6% respectively. Meanwhile, the retail inflation measured on Consumer Price Index (CPI) grew by 5.61% in December, the fifth consecutive month, mainly due to costlier vegetables and cereals. Prices of pulses surged 45.92% in November, while that of vegetable grew marginally 4.63%.
January 13, 2016 | 02:25pm IST
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