Industrial production grew by 2.7% Y-O-Y in Jan 2017
Q. Country's industrial production grew by what percent Y-O-Y in Jan 2017?- Published on 14 Mar 17
India's industrial production grew 2.7 percent Y-O-Y in Jan 2017 despite demonetisation, according to CSO.
Growth was due to the base effect as output had shrunk 1.59% in Jan 2016
Performance was better than 0.38 percent contraction in Dec 2016 but lagged the 5.65 percent growth posted in Nov 2016.
Manufacturing sector accounted for 75% of the total IIP grew 2.3% in January from -2.94 in January 2016 and -1.97% in Dec 2016, but slower than Nov's 5.47 percent pace.
Mining sector recorded a 5.3% growth in January, compared with 1.54% in January 2016 and 5.24% in December 2016.
Electricity production registered a 3.9% growth in January, lower than 6.56% in January 2016 and 6.28% in December 2016.
Capital goods output - a crucial pointer to investment demand in the economy - rose 10.7% from a low base of a contraction of (-) 21.55% in January 2016 as well as from (-) 3.01% in December 2016.
Consumer goods output contracted (-) 1% in January indicating weak consumer demand.
Consumer durables output grew 2.9%.
Only nine out of the 22 industry groups in the manufacturing sector have shown positive growth in the month of January 2017 as compared with the corresponding month of the previous year.
'Electrical machinery & apparatus’ recorded the highest positive growth of 42.4%, followed by 21.8% growth in ‘radio, TV & communication equipment’ and 12.4% in ‘basic metals’.
‘Office, accounting and computing machinery’ registered the highest negative growth of -16%, followed by -14.8% in ‘food products & beverages’ and -13.4% in ‘Other transport equipment’.
Though retail inflation was below the target of 5%, IIP growth for April-January 2016-17 over the corresponding period of the previous year stood at 0.6%.