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Last updated: 13 Mar, 2018  

Industry.9.Thmb.jpg Factory output up 7.5%, capital goods 14.6% in Jan

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SME Times News Bureau | 13 Mar, 2018

Factory output for the month of January doubled to 7.5 per cent y-o-y from 3.5 recorded in the same month last year in the corresponding month, official data released Monday showed.

Industry welcomed the "pick-up in growth trajectory" witnessed in the beginning of the calendar year.

Commenting on the IIP numbers, industry chamber Assocham described these as signs of "an underlying pick-up in the growth trajectory".

"It would be safe to assume that a lot of advantage has accrued because of the low base effect of the previous year when the growth had plunged following the demonetisation, said Assocham Secretary General D.S. Rawat in a statement.

The Index of Industrial Production (IIP), however, rose marginally over the 7.1 per cent registered in December 2017, a Central Statistics Office (CSO) release said here.

The cumulative IIP growth for the April-January period of the current fiscal, at 4.1 per cent, was lower than the 5 per cent posted in same period of 2016-17.

In line with the recent trend of recovery in manufacturing, the sector, which constitutes 77.63 per cent of the index, grew by 8.7 per cent during January, as compared to 2.5 per cent in the same month last year.

The January IIP was also boosted by a higher offtake of consumer and capital goods.

Capital goods output in the month under consideration increased sharply by 14.6 per cent, as against a fall of 0.6 per cent in January last year.

Consumer durables recorded a growth rate of 8 per cent as against a decline of 2 per cent in the same month a year ago.

The mining sector, however, registered negligible growth of 0.1 per cent, as compared to 8.6 per cent rise in January last year.

During January, 16 out of 23 industry groups in the manufacturing sector showed positive growth.

In terms of industries, sixteen out of the twenty three industry groups in the manufacturing sector have shown positive growth during the month of January 2018 as compared to the corresponding month of the previous year.

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