Industrial output grows at 4.2% in July; manufacturing activity improves

Industrial production expanded at a higher rate of 4.2% in July this year compared to the same month last year as manufacturing activity and offtake of capital goods improved.

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The industrial production had grown by 0.9% in July last year.

Industrial growth, measured in terms of the Index of Industrial Production (IIP), was at 3.5% in April-July period against 3.6% in the year-ago period, the data released by the Central Statistics Office (CSO) on Friday showed.

Moreover, the IIP growth for June has been revised upwards to 4.36% from provisional estimate of 3.8% released last month.

The manufacturing sector, which constitutes over 75% of the index, grew by 4.7% in July 2015 against a contraction of 0.3% in the same month last year.

The output of capital goods, a barometer of investment, grew at an impressive rate of 10.6% against a contraction of 3% in the same month last year.

The mining sector growth was at 1.3% in July against 0.1% in the same month last fiscal.

Power generation growth slowed to 3.5% in July compared to 11.4% in the same month a year ago.

The consumer durables goods output expanded at 11.4% in July compared to a contraction of 20.4% in the month a year ago.

Overall consumer goods output rose by 1.3% in July compared to a contraction of 5.9% in the month a year ago.

In terms of industries, 12 out of 22 groups in the manufacturing sector showed positive growth in July.

Posted by on September 11, 2015. Filed under Editorial. You can follow any responses to this entry through the RSS 2.0. Both comments and pings are currently closed.