Surpassing the market expectations, industrial output recorded 3.8% growth for the month of November’14.
CARE’s own estimation was 2.4% for the month.
This growth in the industrial output is attributable to strong pick up of the manufacturing segment at 3%.
The significant growth in capital goods segment also indicates the pickup in investment demand. However, the overall growth has been persistently offset by two important components (‘office, accounting & computing machinery’ and ‘Radio, TV and communications equipment, & apparatus’) without which the growth stands at 6.6% for the month.
The cumulative growth during the period Apr’14-Nov’14 was registered at 2.2% against 0.1% in the corresponding period of the previous fiscal. On the cumulative basis, the performance across the various sectors is given below: Cumulative growth of the mining & quarrying sector segment registered a growth of 2.5% during April – Nov’14 as against a contraction of -2.1% recorded during the corresponding period of the previous year.
Manufacturing segment picked up considerably registering a cumulative positive growth of 2.5% during Apr-Oct’14 against contraction of 0.4% in the previous fiscal.
Out of the 22 industries 14 industries recorded a positive cumulative growth. The electrical machinery & apparatus. n.e.c registered the highest increase of 19.9% followed by basic metals at 11.5% and other transport equipment at 10.1%. Remaining 8 industries were the negative performers.
The ‘office, accounting & computing machinery’ and ‘Radio, TV and communications equipment, & apparatus’ were the worst performers with unusual sharp contraction of 37.9% and 53.4% respectively. Power sector continued with its robust growth of 10.7%. Under the Use-based classification, Basic goods continued to record a significant cumulative growth of 7.5% during the period against a low of 1.2% in the corresponding period of the previous fiscal.
Cumulative growth in capital goods registered a 4.9% growth against a contraction of 0.1% last fiscal. Growth in intermediate goods too registered a subdued growth of 1.8% over 2.8% last fiscal year. Consumer durable and consumer non-durable goods recorded a growth of -15.9% and 1.9% respectively, with the cumulative growth in overall Consumer goods contracting by 5.7% against a contraction of 2.6% in the corresponding period of the last fiscal.
Industrial growth picked up considerably at 3.8% for the month driven by strong performance of the manufacturing segment.
Growth in capital goods is indicative of revival in investment demand. However, growth is partly offset by the negative growth in consumer demand for durables indicating no revival in consumer spending.
CARE’s own estimation was 2.4% for the month.
This growth in the industrial output is attributable to strong pick up of the manufacturing segment at 3%.
The significant growth in capital goods segment also indicates the pickup in investment demand. However, the overall growth has been persistently offset by two important components (‘office, accounting & computing machinery’ and ‘Radio, TV and communications equipment, & apparatus’) without which the growth stands at 6.6% for the month.
The cumulative growth during the period Apr’14-Nov’14 was registered at 2.2% against 0.1% in the corresponding period of the previous fiscal. On the cumulative basis, the performance across the various sectors is given below: Cumulative growth of the mining & quarrying sector segment registered a growth of 2.5% during April – Nov’14 as against a contraction of -2.1% recorded during the corresponding period of the previous year.
Manufacturing segment picked up considerably registering a cumulative positive growth of 2.5% during Apr-Oct’14 against contraction of 0.4% in the previous fiscal.
Out of the 22 industries 14 industries recorded a positive cumulative growth. The electrical machinery & apparatus. n.e.c registered the highest increase of 19.9% followed by basic metals at 11.5% and other transport equipment at 10.1%. Remaining 8 industries were the negative performers.
The ‘office, accounting & computing machinery’ and ‘Radio, TV and communications equipment, & apparatus’ were the worst performers with unusual sharp contraction of 37.9% and 53.4% respectively. Power sector continued with its robust growth of 10.7%. Under the Use-based classification, Basic goods continued to record a significant cumulative growth of 7.5% during the period against a low of 1.2% in the corresponding period of the previous fiscal.
Cumulative growth in capital goods registered a 4.9% growth against a contraction of 0.1% last fiscal. Growth in intermediate goods too registered a subdued growth of 1.8% over 2.8% last fiscal year. Consumer durable and consumer non-durable goods recorded a growth of -15.9% and 1.9% respectively, with the cumulative growth in overall Consumer goods contracting by 5.7% against a contraction of 2.6% in the corresponding period of the last fiscal.
Industrial growth picked up considerably at 3.8% for the month driven by strong performance of the manufacturing segment.
Growth in capital goods is indicative of revival in investment demand. However, growth is partly offset by the negative growth in consumer demand for durables indicating no revival in consumer spending.
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