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Friday, June 12, 2015

Industrial production growth picks up to 4.1% in April 2015

Electricity generation declines in April 2015, snapping 25 months of consistent growth 

India's Index of industrial production (IIP) rose at an accelerated pace of 4.1% in April 2015 over a year ago compared with the revised growth of 2.5% in March 2015. The IIP growth for March 2015 has been scaled up to 2.5% in the first revision compared with 2.1% reported provisionally. Meanwhile, the growth in January 2015 has been revised slightly upwards to 2.83% in the second and final revision compared with 2.77% at the first revision and 2.55% released provisionally. 

Acceleration in the pace of growth of industrial production was driven entirely by strong 5.1% growth in the output of manufacturing sector. However, the mining sector output growth slowed down to 0.6%, while electricity generation recorded decline of 0.5% in April 2015 snapping consistent growth for last 25 sequential months. 

As per the use-based classification, the basic goods output increased 2.8% in April 2015 over a year ago. The output of intermediate goods improved 3.3%, while the capital goods output advanced 11.2% contributing to the acceleration in IIP growth. The output of consumer goods also improved 3.1%, snapping a 0.4% decline in March 2015. Within consumer goods, the production of consumer durables improved 1.3%, while that of consumer non-durables rose 4.4% in April 2015. 

In terms of industries, sixteen (16) out of the twenty two (22) industry groups in the manufacturing sector have shown positive growth during the month of April 2015 as compared to the corresponding month of the previous year. 

The industry group 'Machinery and equipment' has shown the highest positive growth of 20.6%, followed by 16.2% in 'Wood and products of wood & cork except furniture; articles of straw & plating materials' and 13.4% in 'Electrical machinery and apparatus'. 

On the other hand, the industry group 'Office, accounting & computing machinery' has shown the highest negative growth of (-) 36.5%, followed by (-) 34.0% in 'Radio, TV and communication equipment & apparatus' and (-) 26.7% in 'Tobacco products'. 

Some of the important items showing high positive growth during the current month over the same month in previous year include 'Plastic machinery including moulding machinery' (266.4%), 'H R Sheets' (157.5%), 'Paraxylene' (95.0%), 'Conductor, Aluminium' (92.0%), 'Cashew Karnels' (52.4%), 'Vitamins' (48.3%), 'Boilers' (40.3%), 'Air Conditioner (Room)' (34.4%), 'Copper and Copper Products' (33.4%), 'Tea' (33.2%), 'Carbon Steel' (32.5%), 'Block Board' (26.3%), 'Three-Wheelers (Including passenger and goods carrier)' (24.0%) and 'Sugar' (22.9%). 

Some of the other important items showing high negative growth are: 'Cigarettes' (-) 52.8%, 'Grinding Wheels' (-) 46.5%, 'Computers' (-) 46.4%, 'Telephone Instruments (incl. Mobile Phones & Accessories)' (-) 43.0%, 'Cement Machinery' (-) 38.9%, 'Tractors (complete)' (-) 35.2%, 'Aviation Turbine Fuel' (-) 29.3% and 'Aerated Waters and Soft Drinks (-) 23.5%. 
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