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Industrial production growth in January 2008 is 5.3 per cent Print E-mail
Written by Anand   
Thursday, 13 March 2008
The Quick Estimates of Index of Industrial Production (IIP) with base 1993-94 for the month of January 2008 have been released by the Central Statistical Organisation of the Ministry of Statistics and Programme Implementation. The General Index stands at 279.7, which is 5.3% higher as compared to the level in the month of January 2007. The cumulative growth for the period April-January 2007-08 stands at 8.7% over the corresponding period of the previous year.

2. The Indices of Industrial Production for the Mining, Manufacturing and Electricity sectors for the month of January 2008 stand at 184.8, 299.5, and 223.0 respectively, with the corresponding growth rates of 1.8%, 5.9% and 3.3% as compared to January 2007. The cumulative growth during April-January, 2007-08 over the corresponding period of 2006-07 in the three sectors have been 4.6%, 9.2% and 6.3% respectively, which moved the overall growth in the General Index to 8.7%.

3. In terms of industries, as many as fifteen (15) out of the seventeen (17) industry groups (as per 2-digit NIC-1987) have shown positive growth during the month of January 2008 as compared to the corresponding month of the previous year. The industry group ‘Jute and Other Vegetable Fibre Textile (except cotton)’ have shown the highest growth of 281.1%, followed by 18.7% in ‘Leather and Leather & Fur products’ and 13.1% in ‘Basic Chemicals & Chemical Products (except production of Petroleum & Coal)’. On the other hand, the industry group ‘Wood and Wood Products; Furniture and Fixtures’ have shown a negative growth of 4.6% followed by 3.8% in ‘Machinery and Equipment other than Transport Equipment’.

4. As per Use-based classification, the Sectoral growth rates in January 2008 over January 2007 are 3.5% in Basic goods, 2.1% in Capital goods and 7.0% in Intermediate goods. The Consumer durables and Consumer non-durables have recorded growth of (-)3.1% and 10.1% respectively, with the overall growth in Consumer goods being 7.0%.

5. Alongwith the Quick Estimates of IIP for January 2008, the indices for December 2007 have undergone the first revision and those for October 2007 have undergone the second (final) revision in the light of the updated data received from the source agencies.

6. Statements giving Quick Estimates of the Index of Industrial Production at Sectoral, 2-digit level of National Industrial Classification (NIC)-1987 and by Use-based classification for the month of January 2008, along with the growth rates over the corresponding month of previous year, including the cumulative indices and growth rates, are enclosed.

 
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