India's July industrial output increases 4.3%(Second Lead)
Thursday - September 12, 2019 7:10 pm , Category : BUSINESS
New Delhi, Sep 12 (IANS) India's factory output growth accelerated in July 4.3 per cent from a rise of 1.17 per cent reported for June, official data showed here on Thursday. But it was lower than the 6.5 per cent achieved during the corresponding month of the previous fiscal."The cumulative growth for April-July 2019 over the corresponding period of the previous year stands at 3.3 per cent," according to the 'quick estimates' of the Index of Industrial Production (IIP) for July.As per the data, the manufacturing sector output rate rose 4.2 per cent in July from a year-on-year rise of 7 per cent.On the YoY basis, mining production grew 4.9 per cent from a rise of 3.4 per cent and the sub-index of electricity generation was 4.8 per cent higher from 6.6 per cent.Among the six use-based classification groups, the output of primary goods, which has the highest weightage of 34.04, grew 3.5 per cent. The output of intermediate goods, which has the second highest weightage, zoomed 13.9 per cent.While consumer non-durables output rose 8.3 per cent, consumer durables declined 2.7 per cent.Output of infrastructure or construction goods increased 2.1 per cent, but capital goods' production receded 7.1 per cent.In terms of industries, 13 of the 23 industry groups in the manufacturing sector have showed positive growth in July compared with year-ago month.