Industrial production slips 0.1 pc in March with slowdown in manufacturing
Industrial output contracted 0.1 per cent 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 per cent in March 2018.
During the entire 2018-19 fiscal, industrial output witnessed a 3.6 per cent growth as against 4.4 per cent in the previous fiscal, according to data released by the Ministry of Statistics and Programme Implementation.
Manufacturing sector contracted by 0.4 per cent compared to minus 0.3 per cent in February. Capital goods sector shrank by 8.7 per cent versus minus 8.8 per cent in February, the data showed said.
The industry group ‘manufacture of furniture’ showed the highest negative growth of 24.6 per cent followed by a decline of 18.5 per cent 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.’ (ANI)