Mining output rose by 9.8% and power generation increased by 10.4% during the month under review
New Delhi, NFAPost: India’s industrial production growth slipped to 4.3 per cent in December from 7.3 per cent in November 2022, mainly due to subdued performance of the manufacturing sector, according to an official data release.
However, there was improvement on an annual basis as the factory output growth measured in terms of the Index of Industrial Production (IIP) stood at 1% in December 2021.
As per the IIP data released by the National Statistical Office (NSO), the manufacturing sector’s output grew by 2.6% in December 2022 from 0.6 per cent a year ago. The growth stood at 6.4% in the preceding month of November 2022.
Mining output rose by 9.8% during the month under review, from 2.6% in December 2021. Power generation increased by 10.4% in December 2022 compared to 2.8% in the year-ago month.
As per use-based classification, the capital goods segment recorded a growth of 7.6 per cent in December against a decline of 3% in the corresponding month of the last fiscal.
Consumer durables output declined by 10.4% compared to a contraction of 1.9% a year ago. Consumer non-durable goods output expanded by 7.2%, as against a growth of 0.3% earlier.
Infrastructure/construction goods too posted a growth of 8.2% as against 2% in the same month of 2021.
The data also showed that the output of primary goods logged 8.3% growth in the month as against 2.8% in the same period a year ago.
The intermediate goods output growth declined to 0.3% from 1% earlier.
In the nine months of the fiscal (April-December), the growth in IIP works out to be 5.4 per cent, down from 15.3% in the year-ago period.
