Industrial output dips by 1.8% in June
Indicating a persistent slowdown in the economy, industrial production has declined by 1.8% in June mainly due to poor show by manufacturing and capital goods sectors.
Industrial output in the April-June quarter too contracted by 0.1% this fiscal, according to the official data released today.
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Growth in factory output, as measured by the index of industrial production (IIP), was 9.5% in June, and 6.9% in April-June quarter in 2011-12.
The manufacturing sector, which constitutes over 75 % of the index, witnessed a slump in output by dismal 3.2% in June against a growth of 11.1% in the same month a year ago.
The performance of the manufacturing sector was not good in April-June quarter also as the output declined by 0.7% against a growth of 7.7% in the three-month period a year ago.
The capital goods production also declined by massive 27.9% in June against a growth rate of 38.7% a year ago.
The output of these goods contracted in April-June period by 19.6% against a growth of 17% in 2011-12.
Meanwhile, the industrial growth rate for May, 2012 has been revised upwards to 2.53%, from the provisional estimates of 2.4% reported earlier.
Mining output in June grew by just 0.6% against a contraction of 1.4% in the same month a year ago.
The sector's production in April-June quarter declined by 1.1% compared to a growth of 0.6% in 2011-12.
Consumer goods production grew by 3.5% in June as compared to 3.1% growth in the same month last year.
During the first quarter of this fiscal, the growth in the segment was 4% compared to 4.4 % in the three month period a year ago.
Consumer durables production showed a faster growth rate of 9.1% in June, compared to 1.6% in the same month last year. The output of these goods registered a growth of 8% in April-June quarter this fiscal as against 2.7% in the same period in 2011-12.
The consumer non-durables segment output declined by 0.1% in June, as against a growth of 4.3% in the same month last year. This segment grew by 0.7% in first quarter this fiscal as against 5.9% in 2011-12.
The basic goods production growth slowed to 4.1% in June as compared 7.8% a year ago.
During the first quarter this segment recorded a growth of 3.5% as compared to 7.5% a year ago.
Power generation witnessed a growth of 8.8% during June, compared to 8% in the same month a year ago. The electricity generation increased by 6.4% in the first quarter of this fiscal as against 8.3% in the same period in 2011-12.
In all, 14 of the 22 industry groups in the manufacturing sector showed growth in June.