India’s industrial output shrinks for second straight month in August, falls by 0.7 per cent

The federal statistics office plans to revise and rebase the industrial production index in the next six months to better capture the changes taking place in the economy.

By: Reuters | New Delhi | Updated: October 10, 2016 8:04 pm
industrial output, capital goods, india production, india economy, india economy growth, india manufacturing, india manufacturing growth, india business news, business news (Representational image)

India’s industrial output contracted for a second straight month in August, falling by 0.7 percent from a year earlier, led by declines in mining and manufacturing production, government data showed on Monday Economists surveyed by Reuters had forecast a 0.2 percent annual fall in output compared with a revised 2.5 percent year-on-year decline in July.

Production at mines plunged 5.6 percent in August from a year earlier. Manufacturing output fell 0.3 percent year on-year. In a sign of anaemic investment, capital goods production shrank 22.2 percent. Consumer goods grew just 1.1 percent from a year ago, pointing to a tepid consumer demand.

Industrial output figures have paled in significance since last year, when New Delhi revamped the method it uses to calculate gross domestic product. The new method takes into account gross value addition in goods and services, a departure from the old practice that factored in volume-based indicators such as industrial output.

That helps to explain why India remains the fastest growing major economy despite sluggish measures of industrial production. The federal statistics office plans to revise and rebase the industrial production index in the next six months to better capture the changes taking place in the economy.

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  1. R
    Raj
    Oct 10, 2016 at 1:57 pm
    Are we not saving the cow? Who cares about economy.
    Reply
    1. R
      Raj
      Oct 10, 2016 at 2:00 pm
      He he he...kuchh bhi
      Reply
      1. R
        Raj
        Oct 10, 2016 at 5:48 pm
        ...and you are useless
        Reply
        1. T
          Thimna
          Oct 10, 2016 at 5:15 pm
          No-ball prize for economics to Shri Narendrabhaiji Damodadarji Modiji.
          Reply
          1. T
            Thimna
            Oct 10, 2016 at 5:07 pm
            You are a .
            Reply
            1. T
              Thimna
              Oct 10, 2016 at 5:10 pm
              You are a ......
              Reply
              1. T
                Thimna
                Oct 10, 2016 at 5:11 pm
                You are a ..........
                Reply
                1. T
                  Thimna
                  Oct 10, 2016 at 5:05 pm
                  You are a Western Iran origin Indian nationalist.
                  Reply
                  1. I
                    Indiran
                    Oct 10, 2016 at 1:39 pm
                    So the 0.7% drop in industrial growth SHALL BE ADDED TO THE COOKED UP GDP OF 7.9. And that's and ORDER. Anybody who opposes will be shunted out like Raguram Rajan.
                    Reply
                    1. L
                      Lord.RAM
                      Oct 10, 2016 at 1:13 pm
                      So the 0.7% drop in industrial output SHALL BE ADDED TO THE GDP OF 7.9%. That's an ORDER.
                      Reply
                      1. A
                        Anil
                        Oct 10, 2016 at 1:17 pm
                        What is Madi doing here...Where has his promises gone..lt;br/gt;lt;br/gt;It is painful when you realize that you were cheated by the party and leader whom you trusted...
                        Reply
                        1. A
                          Anil
                          Oct 10, 2016 at 1:19 pm
                          Ambani and Adani ....lt;br/gt;lt;br/gt;Cheers to you...lt;br/gt;lt;br/gt;Build you empire with our blood and sweat
                          Reply
                          1. B
                            bitterhoney
                            Oct 10, 2016 at 1:37 pm
                            This is all Congress propaa to defame Modi govt, our industrial output is rising tremendously. We are one of the five biggest manufacturer of automobiles in the world, what else you want from the govt?
                            Reply
                            1. N
                              Nampurath Krishna
                              Oct 10, 2016 at 1:47 pm
                              Another matter of joy for the media infested with pressutes!! Everything developmental and growth decimated to single column bottom of the page less-visible area and everything like this with slightest of nuance otherwise is highlighted as prime news. High time honest journalists with ethics taken charge.
                              Reply
                              1. N
                                Nampurath Krishna
                                Oct 10, 2016 at 1:58 pm
                                Rue on self made air-castle!! Better isn't from proven CWG scam of Rs. 60,000crores, 2G scam of Rs. 1,71,000 crores, Coalgate scam of Rs. 2,98,000 crores, Congress leader Suresh Kalmadi involved in CWG scam is in Tihar jail itself. Ambani and Adani are not allowed to pillage national ets like the Congress led UPA did, that itself is not enough??
                                Reply
                                1. P
                                  Patriot
                                  Oct 10, 2016 at 1:21 pm
                                  "Acche din" are soon going to be here after Feku travels to the rest of 50 countries. Then only remaining countries to visit would be where plane cannot land or visa cannot be obtained....
                                  Reply
                                  1. B
                                    Buddha
                                    Oct 10, 2016 at 7:22 pm
                                    Indian economy headed towards vedic times .
                                    Reply
                                    1. A
                                      asdf
                                      Oct 10, 2016 at 2:47 pm
                                      I am a Bhakt .lt;br/gt;This is all because of antinationals . I need scapegoats to justify this .
                                      Reply
                                      1. J
                                        Joy
                                        Oct 10, 2016 at 2:21 pm
                                        This is in continuation with what has already been experienced : quote: # 1; 29% Of The Toilets Built Under Swachh Bharat Do Not Exist, While 36% Unusable: Surveylt;br/gt;OCTOBER 3, 2016 BY THE LOGICAL INDIANlt;br/gt;Swachh Bharat Toiletslt;br/gt;After conducting survey on 7,500 rural households, it has been found that 29 per cent of Swachh Bharat toilets only exist on paper and have not been built. 36 per cent of the toilets that have been built are not usable. The survey was conducted in December last year by Accountability Initiative at the Centre for Policy Research, across 10 districts in five states.lt;br/gt; The survey covering Himachal Pradesh, Rajasthan, Maharashtra, Madhya Pradesh and Bihar followed government’s achievement list and tried to find out the beneficiaries. Perusing the list, it was found that many of the names on it were mentioned twice.lt;br/gt;While Satara in Maharashtra was found to be the best out of the 10 districts surve, Nalanda in Bihar — home of chief minister Nitish Kumar — was found to be the worst performing district.lt;br/gt;#Unemployment In India Is At A 5-Year High, Around 2.3 Crore People Are Joblesslt;br/gt;This is definitely something that will test the current government. Joblessness in the country is running at a five-year high of 5% of the 15-plus-years work force. This means over a third of working people are emplo for less than a year and 68% of households are earning up to only Rs 10,000 per month, according to a new employment-unemployment (EU) survey report conducted by the Labour Bureau. Unquote: Too much noise, but reality is something else..
                                        Reply
                                        1. K
                                          kranti
                                          Oct 10, 2016 at 2:15 pm
                                          That is at the expense of Dalit whipping !
                                          Reply
                                          1. K
                                            kranti
                                            Oct 11, 2016 at 10:32 am
                                            Vedic Gods will bring miracles !
                                            Reply
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