IndianEra > Business > Indian Industrial Production in Sep’19 At 7-Year-Low

Is Indian economy going down further?

The recent Central Statistics Office (CSO) Data indicates this in saying the country’s industrial production has exhibited ‘worst performance in 7 years’ in September 2019.

According to CSO data, India’s Index of industrial production (IIP) has contracted 4.3% during the month due to decline in output from manufacturing, mining and power sectors.

  • The manufacturing output saw a 3.9% decline in September 2019 over 4.8% growth in September 2018.
  • Coming to power generation, the output fell 2.6 per cent this September compared to 8.2% rise a year ago.
  • The output from mining sector was 8.5% in September 2019 against 0.1% climb in the September of the last fiscal.
  • The production in capital goods sector declined by 20.7% in September 2019 compared to 6.9% in September 2018.

In terms of industry, 17 out of 23 manufacturing industry groups reported decline during September 2019 compared to the last year.

Indian Industrial Production

Overall, September 2019 saw 4.3% contraction registering the lowest in 2011-12 series of IIP unveiled in May 2017. The first year of IIP in April 2012 saw 0.7% decline.

However, September 2018 saw some positive growth by 4.6% in factory output, measured in terms of IIP.

Looking at the April-September 2019 period, the IIP rate remained flat at 1.3% compared to 5.2% year-on-year.

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Posted by IndianEra, 12/11/2019