IIP number for December 2011 at 1.8 per cent; significantly below estimates

Again showing a contraction, the Industrial output numbers for December 2011 clocked a rise of 1.8 per cent over last year.

The Quick Estimates of Index of Industrial Production (IIP) with base 2004-05 for the month of December 2011 released by the Central Statistics Office of the Ministry of Statistics and Programme Implementation shows the General Index for the month of December 2011 stands 1.8% higher as compared to the level in the month of December 2010. The cumulative growth for the period April-December 2011-12 stands at 3.6% over the corresponding period of the previous year.

After plummeting to negative 4.7 per cent (revised data) in October, industrial growth had bounced back to 5.9 per cent in November 2011.

In disappointing figures of December, when all indicators were showing improvement, capital goods sector has shown big decline. Mining sector has also shown decline.

However, policy makers are optimistic about the last quarter of this fiscal and healthy revival in industrial output is expected in January, February and March IIP numbers.

Last Update Sunday 12th February 2012     

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