[sbinews] Industrial Output of India

  • From: sbistcbangalore@xxxxxxxx
  • To: sbinews@xxxxxxxxxxxxx
  • Date: Sat, 13 Dec 2003 07:08:28 +0500

 Industrial output growth slows to 5.4% in October

NEW DELHI : The country’s industrial production grew 5.4% in October ’03 led by 
sustained growth in output of the consumer durables industry. Deceleration in 
the capital goods sector and negative growth in textiles spells bad news, 
though the growth rate of the general index for the April-October period still 
remains a respectable 5.9%. 

However, the overall growth during the month was lower than the 7% increase in 
output seen in October ’02. It was also lower than the growth figures of 7.1%, 
5.5%, 6.6% and 6.4% registered in the previous four months. Manufacturing, on 
the whole, recorded good growth, but mining and electricity generation, in 
particular, grew at a slower pace during the month. 

According to data on industrial production released by the Central Statistical 
Organisation on Friday, the manufacturing sector recorded 6.2% growth during 
the month, against 7.3% in the corresponding period last year. Electricity 
generation during the month was up just 1.6%, much lower than the 7.1% growth 
witnessed in October ’02. As for mining, the growth at 2.1% was exactly half 
that of the corresponding month in ’02. 

The general index for the cumulative period of April-October ’03 was higher at 
5.9%, compared to 5.6% registered in the corresponding period last year. As per 
the use-based classification, basic goods reported 4.7% in October ’03, 
compared to 5.3% in the same month last year. The growth in output of capital 
goods slowed down significantly to 4.6% during the month from 17.5% in October 
’02, while that of intermediate goods was down to 4.2% from 5.5%. 

Consumer goods maintained the momentum of growth seen in ’02 during the month 
with 7.4% increase in output. The growth story of the month was scripted by the 
durables industry, which made a comeback. 

The industry reported 7.5% growth, against a decline of 7.9% in the 
corresponding month last year. Non-durables saw a 7.4% growth in the month, 
against 14.4% in October ’02

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