IIP Growth Rises To Six-Month High In November On Manufacturing Boost
The IIP growth rate in November stood at 5.2%, marking the third consecutive month of rise after the index contracted in August.
India's industrial output growth rose to a six-month high in November, according to the Index of Industrial Production data released by the Ministry of Statistics and Programme Implementation on Friday.
This marked the third consecutive month of rise in the IIP, after the index had contracted by 0.1% in August. In September, the output had rebounded by 3.1%, followed by a 3.5% growth in October.
The uptick in November was primarily driven by the manufacturing sector, whose output grew by 5.8% as against 4.1% in the preceding month.
Mining and electricity, the other two main sectors determining the IIP growth, logged an increase of 1.9% and 4.4%, respectively, in November. In comparison, the mining output grew by 0.9% and power generation by 2% in October.
Among other sectors, consumer durables output rose sharply, as it more than doubled to 13.1% from 5.9% in the preceding month.
IIP Sectoral Estimates (YoY)
Mining output rose by 1.9%.
Manufacturing output grew by 5.8%.
Electricity generation rose by 4.4%.
Industrial output, as classified by the end use of goods, showed:
Primary goods production rose by 2.7%.
Capital goods output increased by 9%.
Intermediate goods output grew by 5%.
Infrastructure and construction goods output gained 10%.
Consumer durables output rose by 13.1%
The overall rise in IIP comes in the backdrop of India's eight core sectors logging a climb during the month, led by cement and coal output. The combined index of eight core industries grew by 4.3% in November, compared to a 3.1% growth in October, as per the official data released on Dec. 31.
