Free Press Journal

Industrial output grows 7% in June


Mumbai : Industrial output recorded a five-month high growth of 7 per cent in June as production of consumer durables and capital goods picked up pace ahead of festival season, showed government data.

Factory output growth, measured in terms of the Index of Industrial Production (IIP), was revised upwards for May at 3.9 per cent from the previous estimate of 3.2 per cent, according to data released by the Central Statistics Office (CSO) on Friday.

The IIP had shown a marginal decline of 0.3 per cent in June 2017.

The first quarter IIP growth stands at 5.2 per cent with manufacturing also recording the same growth. The IIP growth in the year-ago period was 1.9 per cent. Of the 23 industry groups, 19 recorded positive growth with computer and electronics segment expanding at 44 per cent.

“Excellent numbers of IIP growth for June. IIP rises by 7 per cent. Capital goods growth is 9.6 per cent,” said Economic Affairs Secretary Subhash Chandra Garg. Consumer durable segment recorded an impressive growth of 13.1 per cent in June compared to a decline of 3.5 per cent in the year-ago month. The 9.6 per cent growth in capital goods segment in June compares with a decline of 6.1 per cent in the same month last year. The data showed the manufacturing sector grew by 6.9 per cent in June, as against a decline of 0.7 per cent in the year-ago month.

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