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Sep industrial production grows after 6 months
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SME Times News Bureau | 12 Nov, 2020
A favourable base effect, along with inventory build-up prior to the
festive season, accelerated India's industrial activity on both
sequential as well as on the year-on-year basis in September, official
data showed on Thursday.
Accordingly, India's factory output
inched-up by 0.2 per cent on YoY basis. The Index of Industrial
Production (IIP) had recorded a de-growth of (-) 4.6 per cent during the
corresponding period of last year.
Significantly, this is the first time in the last six months that IIP readings on a YoY basis has shown a growth.
The
Ministry of Statistics and Programme Implementation, in the Quick
Estimates of IIP document, said the current index readings should not be
compared with those of the months preceding the Covid-19 pandemic.
"With
the gradual relaxation of restrictions, there has been a relative
improvement in the economic activities by varying degrees as well as in
data reporting," the ministry said in the document.
Among major
segments, manufacturing production de-grew by (-) 0.6 per cent from (-)
4.3 per cent reported for the corresponding month of last year.
However, electricity generation grew by 4.9 per cent from (-) 2.6 per cent during September 2019.
Similarly, mining output rose by 1.4 per cent on a YoY basis.
Furthermore,
the data on a YoY basis showed that manufacturing of primary goods
de-grew by (-) 1.5 per cent, capital goods by (-) 3.3 per cent, and
intermediate goods (-) 1.4 per cent.
On the other hand, the
production of infrastructure or construction goods inched up by 0.7 per
cent and consumer durables by 2.8 per cent.
The sub-segment of consumer non-durables showed a growth of 4.1 per cent.
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Customs Exchange Rates |
Currency |
Import |
Export |
US Dollar
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66.20
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64.50 |
UK Pound
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87.50
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84.65 |
Euro
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78.25
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75.65 |
Japanese
Yen |
58.85 |
56.85 |
As on 13 Aug, 2022 |
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