Quick Estimates of Index of Industrial Production-

Quick Estimates of Index of Industrial Production and Use-Based Index for the Month of May, 2011 (Base 2004-05=100)

The Quick Estimates of Index of Industrial Production (IIP) with base 2004-05 for the month of May 2011 have been released by the Central Statistics Office of the Ministry of Statistics and Programme Implementation. The General Index for the month of May 2011 stands at 165.3, which is 5.6% higher as compared to the level in the month of May 2010. The cumulative growth for the period April-May 2011-12 stands at 5.7% over the corresponding period of the previous year.

2. The Indices of Industrial Production for the Mining, Manufacturing and Electricity sectors for the month of May 2011 stand at 130.4, 173.4 and 153.3 respectively, with the corresponding growth rates of 1.4%, 5.6% and 10.3% as compared to May 2010 (Statement I). The cumulative growth in the three sectors during April-May, 2011-12 over the corresponding period of 2010-11 have been 1.3%, 6.0% and 8.4% respectively, which moved the overall growth in the General Index to 5.7%.

3. In terms of industries, fourteen (14) out of the twenty two (22) industry groups (as per 2-digit NIC-2004) in the manufacturing sector have shown positive growth during the month of May 2011 as compared to the corresponding month of the previous year (Statement II). The industry group ‘Medical, precision & optical instruments, watches and clocks’ has shown the highest growth of 42.9%, followed by 36.4% in ‘Office, accounting & computing machinery’ and 23.1% in ‘Motor vehicles, trailers & semi-trailers’. On the other hand, the industry groups ‘Textiles’ and ‘Wood and products of wood & cork except furniture; articles of straw & plating materials’ have shown the highest negative growth of 6.6% each.

4. As per Use-based classification, the growth rates in May 2011 over May 2010 are 7.2% in Basic goods, 5.9% in Capital goods and 0.9% in Intermediate goods (Statement III). The Consumer durables and Consumer non-durables have recorded growth of 5.2% and 5.6% respectively, with the overall growth in Consumer goods being 5.4%.

5. Some of the important items of basic goods showing high growth during the current month include ‘Molasses’ (102.9%), ‘Stainless/ alloy steel’ (49.0%), ‘GP/GC sheets’ (37.7%), ‘sponge iron’ (33.6%), ‘Fuel, Aviation Turbine’ (33.4%) and ‘Steel Castings’ (30.3%).

6. The other important items showing highly positive growth during the month are: ‘Sugar’ (92.8%), ‘Printed Circuit Board/Plate’ (63.7%), ‘Woollen Carpets’ (58.0%), ‘Indust. Alcohol(Rectified/Denatured Spirit)’ (49.9%), ‘Vitamins’ (48.2%), ‘Computers’ (42.6%), ‘Textile Machinery’ (41.3%), ‘Ship Building & Repairs’ (38.1%), ‘Oil, Lubricating’ (33.3%) and ‘Commercial Vehicles’ (32.1%).

7. Along with the Q.E. of IIP for the month of May 2011, the indices for April 2011 have undergone the first revision and those for February 2011 have undergone the final revision in the light of the updated data received from the source agencies. (It may be noted that these revised indices (first revision) in respect of April 2011 shall undergo final (second) revision in IIP for the month of July 2011)

8. Statements giving Quick Estimates of the Index of Industrial Production at Sectoral, 2-digit level of National Industrial Classification (NIC)-2004 and by Use-based classification for the month of May 2011, along with the growth rates over the corresponding month of previous year, including the cumulative indices and growth rates, are enclosed.