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February IIP grows at 0.6%
 
Growth in industry output, as measured in terms of IIP, for the month of February 2013 is estimated at 0.6% as compared with 4.3% during February 2012. The cumulative growth for the period April-February 2012-13 stands at 0.9% as compared to 3.5% in the corresponding period of the previous year.
 
The growth in the three sectors mining, manufacturing and electricity in February 2013, stands at (-) 8.1%, 2.2% and (-) 3.2% respectively as compared to 2.3%, 4.1% and 8% during February 2012 respectively. The cumulative growth for the period April- February 2012- 2013 in the three sectors mining, manufacturing and electricity over the corresponding year stands at (-) 2.5%, 1% and 4% respectively.
 
   Recent growth pattern in IIP                                                                              (% growth)
Industry Group
Weight in IIP
Apr- Feb
Apr-Feb
February
February
2011-12
2012-13
2012
2013
Mining
14.2
-2.1
-2.5
2.3
-8.1
Manufacturing
75.5
3.7
1.0
4.1
2.2
Electricity
10.3
8.7
4.0
8.0
-3.2
Use based classification
Basic goods
45.7
5.9
2.3
7.6
-1.8
Capital goods
8.8
-1.8
-7.6
10.5
9.5
Intermediate goods
15.7
-0.7
1.5
1.0
-0.7
Consumer Goods
Consumer goods
29.8
4.7
2.5
-0.4
0.5
a) Consumer durables
8.5
2.7
2.7
-6.2
-2.7
b) Consumer non-durables
21.3
6.4
2.3
4.4
2.9
Overall IIP
100
3.5
0.9
4.3
0.6
 
                                                                                                                        
 
 
 
 
 
 
 
 
 
 
    
 
 
 
   Source: PHD Research Bureau, compiled from CSO
 
Basic goods have grown at (-) 1.8% during February 2013 as compared to 7.6% during February 2012. The cumulative growth during April - February 2012-13 stands at 2.3% as compared to 5.9% during the corresponding period of last year. Consumer goods have grown at 0.5% during February 2013 as compared to (-) 0.4% during February 2012. Consumer durables have grown at (-) 2.7% during February 2013 as compared to (-) 6.2% during corresponding period last year, while consumer non durables have grown at  2.9% during February 2013 as compared to 4.4% during February 2012.
 
The cumulative growth of consumer goods during Apr-Feb 2012-13 stands at 2.5% as against 4.7% during the corresponding period last year. Consumer durables have shown a cumulative growth of 2.7% during Apr-Feb 2012-13 and also during Apr-Feb 2011-12, while consumer non durables have shown a cumulative growth of 2.3% during Apr-Feb 2012-13 as compared to 6.4% during Apr-Feb 2011-12.
 
Some of the important items showing high positive growth during the current month over the same month in previous year include Cashew Kernels (83.4%), Apparels (16%), Leather Garments (39.6%), Vitamins (121.2%), Heat Exchangers (61.5%), Conductor, Aluminium (66%), Cable, Rubber Insulated (188.5%), Generator/ Alternator (47.9%) and Ship Building & Repairs (105.4%).
 
Some of the other important items showing high negative growth are Biscuits (-) 26.8%, Polythene Bags including Hdpe & Ldpe Bags (-) 44.5%, Grinding wheels (-) 34.2%, Stampings & Forgings (-) 24.4%, Razor Blades/ Safety Blades (-) 32.6%, Fasteners (-) 27.6%, Tractors (complete) (-) 19.4%, Machine Tools (-) 51.9%, Earth Moving Machinery (-) 20% and Commercial Vehicles (-) 23.6%.
 
 
Trend in IIP growth                                                                                                              (%)
 
  Source: PHD Research Bureau, compiled from CSO
 
Capital goods have grown at 9.5% during February 2013 as compared to a growth of 10.5% in February 2012. The cumulative growth of capital goods stands at (-) 7.6% during April- February 2012-13 as compared to (-) 1.8% during April- February 2011-12.
 
Trend in the growth of capital goods                                                                             (%)
  Source: PHD Research Bureau, compiled from CSO
 
Warm regards,
 
Dr. S P Sharma
Chief Economist
________________________________________________
PHD Research Bureau
PHD Chamber of Commerce and Industry
August Kranti Marg, New Delhi – 110016
Tel 91 11 49545454, Fax 91 11 26855450,
E mail – research@phdcci.in
Website www.phdcci.in

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