IIP Data: Industrial production rises 5.2% in May, up from 4.2% in April

IIP Data: Govt data released on Wednesday showed that India's industrial production growth rose to 5.2 per cent in May, up from 4.2 per cent in April, mainly due to good performance by the manufacturing and mining sectors. The official data released showed that the factory output growth measured in terms of the Index of Industrial Production (IIP) stood at 19.7 per cent in May last year.

"The growth rates over corresponding period of previous year are to be interpreted, considering the unusual circumstances on account of COVID 19 pandemic since March 2020," an official statement explained.

IIP Data: Salient Points

• The data released by the National Statistical Office (NSO) showed that the manufacturing sector's output increased by 5.7 per cent in May 2023.
   
• Power generation rose 0.9 per cent in May 2023 compared to a growth of 23.5 per cent a year ago.
   
• As per use-based classification, the capital goods segment grew 8.2 per cent in May this year compared to 53.3 per cent a year ago.
   
• Consumer durables output during the month rose 1.1 per cent against a 59.1 per cent growth in the year-ago period.
   
• Consumer non-durable goods output increased by 7.6 per cent compared to a growth of 1.4 per cent a year earlier.
   
• Infrastructure/construction goods posted a growth of 14 per cent over an 18.4 per cent expansion in the same period a year ago.
   
• The data also showed that the output of primary goods logged 3.5 per cent growth in the month against 17.8 per cent in the year-ago period.
   
• The intermediate goods output in May rose 1.6 per cent compared to a 17.5 per cent growth during the corresponding month last year.
   
• During the April-May period of fiscal 2023-24, the growth in IIP works out to be 4.8 per cent, down from 12.9 per cent in the corresponding period a year ago.

(With Agency Inputs)