Industrial activity shrinks 2.1% in November

Industrial activity as captured by the index of industrial production (IIP) declined 2.1 per cent in November over the year-ago period, according to quick estimates of the index released by the government on Friday. This takes the cumulative growth for April-November 2013-14 over the corresponding period of the previous year  to (-) 0.2 per cent.

While the mining and electricity sectors grew 1 per cent and 6.3 per cent, respectively, for November, manufacturing sector saw a drop of 3.5 per cent during the month.

In terms of industries, 10 of the 22 industry groups in the manufacturing sector have shown negative growth during the month compared with the corresponding month of the previous year.

As per use-based classification, the growth rates in November 2013 over November 2012 are 0.7 per cent for basic goods, 0.3 per cent for capital goods and 3.3 per cent for intermediate goods. Consumer durables in particular saw de-growth of 21.5 per cent while consumer non-durables grew 2.5 per cent, with the overall consumer goods sector seeing 8.7 per cent decline.

(Edited by Joby Puthuparampil Johnson)

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