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Our Bureau

New Delhi, July 12 Slowdown in manufacturing dragged down the Index of Industrial Production (IIP) marginally to 11.1 per cent in May from 11.7 per cent in the corresponding month last year.

While the mining and electricity sectors fared better in May, manufacturing fared poorly in the month, with growth rate at 11.9 per cent from 13.3 per cent during the corresponding month in 2006-07, reveals the quick estimates of IIP issued by the Government. The mining sector recorded a growth of 3.7 per cent against 2.9 per cent in May 2006, while the power sector performed much better by virtually doubling growth rate to 9.4 per cent from 5 per cent.

According to the data, the cumulative growth rate during April-May stood at 11.7 per cent as against 10.8 per cent during the same period last year.

During April-May, the mining, manufacturing and electricity sectors recorded growth rates of 3 per cent (3.2 per cent in April-May 2006), 12.7 per cent (12.2 per cent) and 9 per cent (5.5 per cent) respectively.

As per the use-based classification of the industry, the growth rate of consumer durables dipped to 2.6 per cent in May as against 17.5 per cent in the corresponding month last year.

The growth rates of intermediate goods and consumer goods too decelerated to 9.1 per cent and 9.8 per cent from 12.5 per cent and 10.5 per cent respectively in May 2006

Related Stories:
Infrastructure sector posts 8.7% growth in May
Industrial output surges; manufacturing grows 15.1%

More Stories on : Economy | Economy

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