May IIP at 4.7%

India Infoline News Service | Mumbai |

The cumulative growth for the period April-May 2014-15 over the corresponding period of the previous year stands at 4.0%.

The IIP for the month of May 2014 stands at 173.8, which is 4.7% higher as compared to the level in the month of May 2013. The cumulative growth for the period April-May 2014-15 over the corresponding period of the previous year stands at 4.0%.
 
The Indices of Industrial Production for the Mining, Manufacturing and Electricity sectors for the month of May 2014 stand at 125.6, 181.6 and 183.2 respectively, with the corresponding growth rates of 2.7%, 4.8% and 6.3% as compared to May 2013 (Statement I). The cumulative growth in the three sectors during April-May 2014-15 over the corresponding period of 2013-14 has been 2.6%, 3.7% and 9.0% respectively.
 
In terms of industries, sixteen (16) out of the twenty two (22) industry groups (as per 2-digit NIC-2004) in the manufacturing sector have shown positive growth during the month of May 2014 as compared to the corresponding month of the previous year (Statement II). The industry group ‘Furniture; manufacturing n.e.c.’ has shown the highest positive growth of 60.0%, followed by 37.1% in ‘Tobacco products’ and 33.7% in ‘Electrical machinery & apparatus n.e.c.’. On the other hand, the industry group ‘Radio, TV and communication equipment & apparatus’ has shown the highest negative growth of (-) 40.3%, followed by (-) 28.6% in ‘Office, accounting & computing machinery’ and (-) 7.4% in ‘Motor vehicles, trailers & semi-trailers’.
 
As per Use-based classification, the growth rates in May 2014 over May 2013 are 6.3% in Basic goods, 4.5% in Capital goods and 2.7% in Intermediate goods (Statement III).  The Consumer durables and Consumer non-durables have recorded growth of 3.2% and 3.9% respectively, with the overall growth in Consumer goods being 3.7%.
 
Some of the important items showing high positive growth during the current month over the same month in previous year include ‘Woollen Carpets’ (167.1%), ‘Cable, Rubber Insulated’ (128.6%), ‘Gems and Jewellery’ (127.1%), ‘Copper and Copper Products’ (89.2%), ‘Vitamins’ (66.4%), ‘Ayurvedic Medicaments’ (64.1%), ‘Stainless/ alloy Steel’ (39.8%), ‘Air Conditioner (Room)’ (38.5%) and ‘Scooter and Mopeds’ (28.9%).
 
Some of the other important items showing high negative growth are: ‘Aluminium Conductor’ [(-) 60.3%], ‘Lubricating Oil’ [(-) 51.3%], ‘Telephone Instruments (incl. Mobile Phones & Accessories)’ [(-) 47.8%],  ‘Computers’          [(-) 38.1%], ‘Polythene Bags Including HDPE & LDPE Bags’ [(-) 29.5%], ‘Antibiotics and its preparations’ [(-) 27.2%], ‘Commercial Vehicles’ [(-) 22.7%] and ‘Boilers’ [(-) 21.8%].
                
Along with the Quick Estimates of IIP for the month of May 2014, the indices for April 2014 have undergone the first revision and those for February 2014 have undergone the final revision in the light of the updated data received from the source agencies. It may be noted that these revised indices (first revision) in respect of April 2014 shall undergo final (second) revision along with the release of IIP for the month of July 2014.
 
 
 
 
 

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