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Industrial production slips 0.1 pc in March with a slowdown in manufacturing

Industrial production slips 0.1 pc in March with a slowdown in manufacturing

New Delhi: Industrial output contracted 0.1 percent in March due to a slowdown in the manufacturing sector, official data showed on Friday.

Factory output as measured in terms of the Index of Industrial Production (IIP) had expanded 5.3 percent in March 2018.

During the entire 2018-19 fiscal, industrial output witnessed a 3.6 percent growth as against 4.4 percent in the previous fiscal, according to data released by the Ministry of Statistics and Programme Implementation.

The manufacturing sector contracted by 0.4 percent compared to minus 0.3 percent in February. Capital goods sector shrank by 8.7 percent versus minus 8.8 percent in February, the data showed said.

The industry group ‘manufacture of furniture’ showed the highest negative growth of 24.6 percent followed by a decline of 18.5 percent in ‘manufacture of other transport equipment’ and minus 15.3 in ‘manufacture of fabricated metal products, except machinery and equipment.’

On the other hand, the industry group ‘manufacture of tobacco products’ showed the highest positive growth of 13.5 per cent followed by 10.6 per cent in ‘manufacture of computer, electronic and optical products’ and 9.3 per cent in ‘manufacture of wood and products of wood and cork, except furniture; manufacture of articles of straw and plaiting materials.’

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