India's industrial output growth, as per the Index of Industrial Production (IIP), fell to a 10-month low of 0.4 per cent in December 2021, as per data released by the National Statistical Office (NSO) on Friday.
Industrial growth stood at 1.3 per cent November 2021. In December 2020, the IIP growth was recorded as 2.2 per cent.
IIP poor data for December is largely due to decline in manufacturing activities. Manufacturing sector, the biggest component of the IIP, contracted by 0.1 per cent in December 2021 against a positive growth of 2.7 per cent recorded in December 2020.
Electricity sector also grew at a slower pace. The growth in electricity production declined to 2.8 per cent in December 2021 from 5.1 per cent in December 2020.
However, mining output by 2.6 per cent in December 2021 against a contraction of 3 per cent recorded in December 2020.
Cumulative data looks impressive due to low base. For April-December 2021 period the growth in industrial output stood at 15.2 per cent against a contraction of 13.3 per cent recorded in the corresponding period of the previous year.
For the first nine-month period of the current financial year, manufacturing has posted a growth of 16 per cent against a contraction of 14.9 per cent recorded in April-December 2020 period.
For the month of December 2021, the Quick Estimates of Index of Industrial Production (IIP) with base 2011-12 stands at 138.0. The Indices of Industrial Production for the Mining, Manufacturing and Electricity sectors for the month of December 2021 stand at 120.3, 138.8 and 162.5 respectively, the Ministry of Statistics & Programme Implementation said in a statement.
( With inputs from ANI )
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