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Factory output growth declines to 1.4 pc in November
Factory output growth measured by the Index of Industrial Production (IIP) dropped to nine month low of 1.4 per cent in November 2021, the government data showed on Wednesday.
The factory output growth stood at 4 per cent in October 2021. The IIP data has come weak despite low base. The factory output had contracted by 1.6 per cent in November 2020. For April-November 2021 period, factory output posted a growth of 17.4 per cent against a contraction of 15.3 per cent recorded during the same period in the previous year, according to Quick Estimates of Index of Industrial Production (IIP) released by the Ministry of Statistics & Programme Implementation. Manufacturing posted a growth of 0.9 per cent in November 2021 as against a contraction of 1.6 per cent recorded during the same month in 2020.
For the month of November 2021, the Quick Estimates of Index of Industrial Production (IIP) with base 2011-12 stands at 128.5. The Indices of Industrial Production for the Mining, Manufacturing and Electricity sectors for the month of November 2021 stand at 111.9, 129.6 and 147.9 respectively, the Ministry of Statistics & Programme Implementation said. Mining output increased by 5 per cent in November 2021 as against a contraction of 5.4 per cent recorded in the same month of 2020. Electricity output growth slowed to 2.1 per cent in November 2021 from 3.5 per cent growth recorded during the same month of previous year. The factory output was badly hit in 2020 due to the COVID-19 pandemic. "The Indices are to be interpreted considering the unusual circumstances on account of COVID-19 pandemic since March 2020," the Ministry of Statistics & Programme Implementation said.