Growth in industry output, as measured in terms of IIP, for the month of July 2013 is estimated at 2.6% as compared with (-) 2.2% during June 2013. The cumulative growth stands at (-) 0.2% for the period April-July 2013-14 and April-July 2012-13.
The growth in the three sectors mining, manufacturing and electricity in July 2013 stands at (-) 2.3%, 3% and 5.2% as compared to (-) 4.1%, (-) 2.2% and 0% during June 2013 respectively. The cumulative growth for the period April- July 2013- 2014 in the three sectors mining, manufacturing and electricity over the corresponding year stands at (-) 4%, (-) 0.2% and 3.9% respectively.
Recent growth pattern in IIP (% growth)
Industry Group
|
Weight in IIP
|
Apr- July
|
Apr-July
|
June
|
July
|
2012-13
|
2013-14
|
2013
|
2013
| ||
Mining
|
14.2
|
(-) 2.0
|
(-) 4.0
|
(-) 4.1
|
(-) 2.3
|
Manufacturing
|
75.5
|
(-) 0.6
|
(-) 0.2
|
(-) 2.2
|
3.0
|
Electricity
|
10.3
|
5.5
|
3.9
|
0.0
|
5.2
|
Use based classification
| |||||
Basic goods
|
45.7
|
2.7
|
0.2
|
(-) 1.9
|
1.7
|
Capital goods
|
8.8
|
(-) 16.8
|
1.8
|
(-) 6.6
|
15.6
|
Intermediate goods
|
15.7
|
0.6
|
1.8
|
1.1
|
2.4
|
Consumer Goods
| |||||
Consumer goods
|
29.8
|
3.1
|
(-) 2.0
|
(-) 2.3
|
(-) 0.9
|
a) Consumer durables
|
8.5
|
6.1
|
(-) 12.0
|
(-) 10.5
|
(-) 9.3
|
b) Consumer non-durables
|
21.3
|
0.6
|
6.8
|
5.0
|
6.8
|
Overall IIP
|
100
|
(-) 0.2
|
(-) 0.2
|
(-) 2.2
|
2.6
|
Source: PHD Research Bureau, compiled from CSO
Basic goods have grown at 1.7% during July 2013 as compared to (-) 1.9% during June 2013. The cumulative growth during April - July 2013-14 stands at 0.2% as compared to 2.7% during the corresponding period of last year. Consumer goods have grown at (-) 0.9% during July 2013 as compared to (-) 2.3% during June 2013. Consumer durables have grown at (-) 9.3% during July 2013 as compared to (-) 10.5% during June 2013, while consumer non durables have grown at 6.8% during July 2013 as compared to 5% during June 2013.
The cumulative growth of consumer goods during Apr-July 2013-14 stands at (-) 2% as against 3.1% during the corresponding period last year. Consumer durables have shown a cumulative growth of (-) 12% as against 6.1% during the corresponding period last year, while consumer non durables have shown a cumulative growth of 6.8% during Apr-July 2013-14 as compared to 0.6% during the corresponding period last year.
Some of the other important items showing high negative growth are Grinding Wheels (-) 29.4%, Boilers (-) 36.6%, Air Conditioner (Room) (-) 30.8%, Earth Moving Machinery (-) 42.6%, Sugar Machinery (-) 27.9%, Plastic Machinery Incl. Moulding Machinery (-) 40.7%, Transformers (Small) (-) 22.7%, Generator/ Alternator (-) 42%, Telephone Instruments including Mobile Phones & Accessories (-) 21.5% and Gems and Jewellery (-) 20.5%.
Some of the important items showing high positive growth during the current month over the same month in previous year include Fruit Pulp (50.5%), Cashew Kernels (23.2%), Apparels (39.8%), Leather Garments (62.6%), Purified Terephthalic Acid (29.6%), Vitamins (61.8%), Ayurvedic Medicaments (44.6%), Cable, Rubber Insulated (336.0%) and Ship Building & Repairs (58.7%).
Trend in IIP growth (%)
Source: PHD Research Bureau, compiled from CSO
Capital goods have grown at 15.6% during July 2013 as compared to (-) 6.6% during June 2013. The cumulative growth of capital goods stands at 1.8% during April- July 2013-14 as compared to (-) 16.8% during April- July 2012-13.
Trend in the growth of capital goods (%)
Source: PHD Research Bureau, compiled from CSO
August CPI Inflation at 9.52% -- The all India general CPI (Combined) for Aug 2013 stands at 9.52% as compared to 9.64% for July 2013. The inflation rates for rural and urban areas for Aug 2013 are 8.93% and 10.32% respectively as compared to 9.14% and 10.18% respectively for July 2013.
Warm regards,
Dr. S P Sharma
Chief Economist
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