Factory output grows 2.6 percent in July

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SME Times News Bureau | 13 Sep, 2013
Country's industrial output rose by 2.6 percent in July, against a deceleration of 0.1 percent in the corresponding month of 2012.

The rise in industrial production in the last three months comes on the back of healthy growth in major sectors like manufacturing and electricity, government data showed Thursday.

However, the factory output, measured in terms of Index of Industrial Production (IIP), has contracted by 0.2 percent in April-July period of the current financial year, according to data released by the Central Statistics Office.

Manufacturing production registered a growth of three percent during July from nil productivity in the corresponding month of last year.

In April-July period, the sector's output contracted by 0.2 percent from 0.6 percent negative growth.

In June, the sector's output contracted by 2.2 percent.

The electricity sector also reported healthy growth in productivity, with an increase of 5.2 percent in July, 2013 from a rise of 2.8 percent in the corresponding month of 2012.

In June, the sector had remained stagnant with no gains in productivity.

Mining output in July declined by 2.3 percent from a deceleration of 3.5 percent in the corresponding month last year. Mining output in June had declined by a massive 4.1 percent.

Segment-wise growth was witnessed in fruit pulp (50.5 percent), apparels (39.8 percent), leather garments (62.6 percent), ayurvedic medicaments (44.6 percent), ship building and repairs (58.7 percent) and cable, rubber insulated (336 percent).

Segment-wise, high negative growth was reported in cigarettes (-25.1 percent), grinding wheels (-29.4 percent), plastic machinery including moulding machinery (- 40.7 percent), boilers (-36.6 percent), earth moving machinery machinery (-42.6 percent), sugar machinery (-27.9 percent) and gems and jewellery (-20.5 percent) and telephone instruments including mobile phones and accessories(-21.5 percent).