India's index industrial production (IIP) contracted unexpectedly by 0.6 per cent in December from the previous year, weighed down by manufacturing.Here is full text of the government release on the data:
The Quick Estimates of Index of Industrial Production (IIP) with base 2004-05 for the month of December 2012 have been released by the Central Statistics Office of the Ministry of Statistics and Programme Implementation.
IIP is compiled using data received from 16 source agencies viz. Department of Industrial Policy & Promotion (DIPP); Indian Bureau of Mines; Central Electricity Authority; Joint Plant Committee; Ministry of Petroleum & Natural Gas; Office of Textile Commissioner; Department of Chemicals & Petrochemicals; Directorate of Sugar; Department of Fertilizers; Directorate of Vanaspati, Vegetable Oils & Fats; Tea Board; Office of Jute Commissioner; Office of Coal Controller; Railway Board; Office of Salt Commissioner and Coffee Board.
2. The General Index for the month of December 2012 stands at 179.3, which is 0.6 per cent lower as compared to the level in the month of December 2011. The cumulative growth for the period April-December 2012-13 over the corresponding period of the previous year stands at 0.7 per cent.
3. The Indices of Industrial Production for the Mining, Manufacturing and Electricity sectors for the month of December 2012 stand at 131.3, 191.3 and 157.6 respectively, with the corresponding growth rates of (-) 4.0 per cent, (- ) 0.7 per cent and 5.2 per cent as compared to December 2011 (Statement I). The cumulative growth in the three sectors during April-December 2012-13 over the corresponding period of 2011-12 has been (-) 1.9 per cent, 0.7 per cent and 4.6 per cent respectively.
4. In terms of industries, twelve (12) out of the twenty two (22) industry groups (as per 2-digit NIC-2004) in the manufacturing sector have shown negative growth during the month of December 2012 as compared to the corresponding month of the previous year (Statement II). The industry group 'Medical, precision & optical instruments, watches and clocks' has shown the highest negative growth of 27.4 per cent, followed by 24.0 per cent in 'Publishing, printing and reproduction of recorded media' and 20.8 per cent in 'Office, accounting and computing machinery'. On the other hand, the industry group 'Electrical machinery and apparatus n.e.c.' has shown a positive growth of 48.2 per cent followed by 18.8 per cent in 'Furniture; manufacturing n.e.c.' and 9.3 per cent in 'Coke, refined petroleum products & nuclear fuel'.
5. As per Use-based classification, the growth rates in December 2012 over December 2011 are 2.6 per cent in Basic goods, (-) 0.9 per cent in Capital goods and (-) 0.1 per cent in Intermediate goods (Statement III). The Consumer durables and Consumer non-durables have recorded growth of (-) 8.2 per cent and (-) 1.4 per cent respectively, with the overall growth in Consumer goods being (-) 4.2 per cent.
6. Some of the important items showing high negative growth during the current month over the same month in previous year include 'Block Board' [(-) 29.9 per cent], 'Newspapers' [(-) 24.8 per cent], 'Furnace Oil' [(-) 25.5 per cent], 'Grinding wheels' [(-) 44.5 per cent], 'Boilers' [(-) 24.5 per cent], 'Stampings & Forgings' [(-) 34.8 per cent], 'Razor Blades/Safety Blades' [(-) 23.5 per cent], 'Fasteners (excl. Zip Fasteners)' [(- ) 29.9 per cent], 'Tractors' [(-) 21.0 per cent], 'Plastic Machinery incl. Moulding Machinery' [(-) 22.3 per cent], 'Telephone Instruments including Mobile Phones and Accessories' [(-) 21.1 per cent] and 'Commercial Vehicles' [(-) 19.8 per cent].
7. Some of the other important items showing high positive growth are: 'Molasses' (33.5 per cent), 'Aerated Water & Soft Drinks' (65.0 per cent), 'Gas, Liquefied Petroleum' (18.5 per cent), 'Petroleum Coke' (64.9 per cent), 'Carbon Steel' (23.7 per cent), 'CR Sheets' (23.9 per cent), 'Conductor, Aluminium' (82.3 per cent), 'Cable, Rubber Insulated' (133.6 per cent), 'Wood Furniture'
8. Along with the Q.E. of IIP for the month of November 2012, the indices for October 2012 have undergone the first revision and those for August 2012 have undergone the final revision in the light of the updated data received from the source agencies. It may be noted that these revised indices (first revision) in respect of October 2012 shall undergo final (second) revision along with the release of IIP for the month of January 2013.
9. Statements giving Quick Estimates of the Index of Industrial Production at Sectoral, 2-digit level of National Industrial Classification (NIC-2004) and by Use-based classification for the month of November 2012, along with the growth rates over the corresponding month of previous year, including the cumulative indices and growth rates, are enclosed.