Some good news: After January’s 5.3%… industrial output grew 8.6% in Feb

However, the consumer durable goods sector, which grew by a negative 3.1 per cent in January, rose by 3.3 per cent in February against 1.8 per cent a year ago. Mining output maintained its growth rate of 7.5 per cent in February this year. For April-February 2007-08, electricity generation was 6.6 per cent against 7.2 per cent in the corresponding period of last year. Manufacturing growth was 9.1 per cent against 12.2 per cent, but mining output expanded at a higher pace of 5.1 per cent against 5 per cent.

For the first 11 months of last fiscal, consumer durable goods production declined. It grew at a negative 1 per cent against a whopping 9.7 per cent a year ago. Consumer non-durables, however, witnessed higher growth rate in February 2008 at 11 per cent, against 9.3 per cent in the same month last year.

For April-February 2007-08, consumer non-durable goods witnessed a growth of 8.9 per cent against 9.5 per cent. Intermediate goods production rose by 8.2 per cent in February, compared to 13.3 per cent a year-ago, and 9.2 per cent in the first 11 months of 2007-08, against 11.7 per cent.

Capital goods, the key sector for industrial growth, grew at a slightly lower rate of 17.5 per cent in April-February, 2007-08, against 18.3 per cent in the corresponding period last year. However, basic goods grew at a lesser pace of 7.4 per cent, against 10.1 per cent for the first 11 months of 2007-08.

As many as 15 industries out of 17 have shown positive growth in February from a year-ago period. Jute, vegetable, fibre and textile sectors showed the highest growth, followed by 18.8 per cent in leather and fur products and 18.2 per cent in the metal products and parts category. On the other hand, the industry group wood and wood products, furniture and fixtures has shown a negative growth of 13.8 per cent, followed by 1.7 per cent in textile products, including apparel.