Indian I.I.P ( Indust. Prod. ) data Details

 

Indian De acceleration commences. Inflation stifles Growth.

Ministry of Statistics & Programme Implementation12-September, 2011 11:29 IST

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

The Quick Estimates of Index of Industrial Production (IIP) with base 2004-05 for the month of July 2011 have been released by the Central Statistics Office of the Ministry of Statistics and Programme Implementation. The General Index for the month of July 2011 stands at 166.6, which is 3.3% higher as compared to the level in the month of July 2010. The cumulative growth for the period April-July 2011-12 stands at 5.8% 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 July 2011 stand at 126.7, 176.0 and 152.1 respectively, with the corresponding growth rates of 2.8%, 2.3% and 13.1% as compared to July 2010 (Statement I). The cumulative  growth in the three sectors during April-July, 2011-12 over the corresponding period of 2010-11 have been 1.1%, 6.0% and 9.4% respectively, which moved the overall growth in the General Index to 5.8%. 3.     In terms of industries, fifteen (15) 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 July 2011 as compared to the corresponding month of the previous year (Statement II). The industry group ‘Office, accounting & computing machinery’ has shown the highest growth of 38.3%, followed by 18.9% in ‘Basic metals’ and 17.5% in ‘Other transport equipment’. On the other hand, the industry group ‘Electrical machinery & apparatus n.e.c.’ has shown a negative growth of 46.0% followed by 12.5% in ‘Medical, precision & optical instruments, watches and clocks’. 4.     As per Use-based classification, the growth rates in July 2011 over July 2010 are 10.1% in Basic goods, (-) 15.2% in Capital goods and (-) 1.1% in Intermediate goods (Statement III). The Consumer durables and Consumer non-durables have recorded growth of 8.6% and 4.1% respectively, with the overall growth in Consumer goods being 6.2%. 5.     Some of the important items of capital goods showing highly negative growth during the current month and thus contributing to the low growth of the overall index for the month include ‘Cable, Rubber Insulated’ [(-) 64.9%], ‘Cement Machinery’ [(-) 62.8%] and UPS/Inverter/Converter’ [(-) 55.9%]. However, some important items of the Capital goods are also showing significant positive growth. These are:  ‘Computers’ (47.1%), ‘Textile Machinery’ (36.0%), ‘Ship Building & Repairs’ (34.9%), ‘Machine Tools’ (31.6%), ‘Tractors’ (24.6%) and ‘Commercial Vehicles’ (21.8%). 6.     The other important items showing positive growth during the month are: ‘Woollen Carpets’ (171.9%), ‘Molasses’ (88.9%), ‘Stainless/ alloy steel’ (63.0%), ‘Fruit Pulp’  (54.1%), ‘GP/GC sheets’ (50.6%), ‘Aluminium’ (43.6%), ‘Steel Castings’ (42.4%) and ‘CR Sheets’ (40.0%).  7.     Along with the Q.E. of IIP for the month of July 2011, the indices for June 2011 have undergone the first revision and those for April 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 June 2011 shall undergo final (second) revision in IIP for the month of September 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 July 2011, along with the growth rates over the corresponding month of previous year, including the cumulative indices and growth rates, are enclosed.

Indian Industrial Production Cut to 8.2%: CMIE

 Centre for Monitoring Indian Economy (CMIE) has scaled down its forecast for the industrial production growth in FY 12 to 8.2 per cent from 8.7 per cent earlier.

A lower than expected production growth witnessed by a few industries in the first 2-4 months of the year and delays in commissioning of plants by companies prompted it to revise the forecast downwards, CMIE said in its monthly review here.
Delays in commissioning of power projects have caused a downward revision in the forecast for the growth in electricity generation in FY 12 to nine per cent from 10.1 per cent earlier, it said.
CMIE revised its forecast for growth in steel production in FY 12 from 12 per cent to 9.5 per cent due to a lower-than-expected growth in steel consumption in the first three months, and a shortfall of iron ore likely to be faced by the steel manufacturing units located in Karnataka, following the suspension of mining from Bellary ordered by the Supreme Court.

Postponement of project commissioning by HPCL-Mittal Energy, Essar Oil and MRPL and a lower than expected growth in the June 2011 quarter prompted us to bring down our forecast for growth in petroleum throughput in FY 12 from 9.3 per cent to 7.7 per cent. Consequently, our forecast for diesel, petrol and other petroleum products has been revised downwards, CMIE said.