Industrial growth rises in Nov

NEW DELHI, JAN 20: Energized by a revival in the manufacturing sector, industrial growth improved further in November to 6.1 per cent compar...

NEW DELHI, JAN 20: Energized by a revival in the manufacturing sector, industrial growth improved further in November to 6.1 per cent compared to 3.3 per cent achieved in the previous month.

However, the industrial growth for April-November remained unchanged at five per cent as in the first seven months of the fiscal, according to quick estimates of the Index of Industrial Production (IIP) released by the Central Statistical Organisation (CSO) here today.

Compared to the five per cent overall growth this year, the growth in IIP (base: 1980-81=100) during the first eight months last year was 9.2 per cent.The manufacturing sector, which has a weight of 77.11 per cent in IIP, showed remarkable improvement in November, growing at 7.4 per cent compared to three per cent in October and 3.7 per cent in November last year.

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The cumulative growth in the sector improved slightly to 4.8 per cent during April-November compared to 4.7 per cent in the first seven months of 1997-98. However, this was way below 12.2 per cent growth achieved during April-November last year.

Growth in electricity showed continued signs of slowing down after a robust growth in the initial months, with the sector growing at 2.8 per cent in November compared to 9.3 per cent and 5.1 per cent in September and October, respectively. The slowdown continued in the mining industry also, with the sector growing at 4.6 per cent during April-November compared to 5.3 per cent in the first seven months of the year. During November, mining sector grew at a paltry 0.6 per cent compared to 3.4 per cent in the same period last year.

However, the cumulative growth in mining sector during April-November was higher than the growth of 1.9 per cent in the same period last year.As per use-based classification, the capital goods sector came out of deceleration in November to grow at 1.1 per cent.

The consumer durables sector also showed considerable improvement during November, growing at 21.5 per cent compared to a negative growth of 8.7 per cent in the month last year. The sector grew at 9.3 per cent during the first eight months.