IIP Data: Factory output revives in Dec 2018 - Check what all drove India's Industrial Production growth

The India's Industrial Production (IIP) or factory output finally saw some revival in December 2018, by recording growth of 2.4%. This month's IIP stands at 133.7. This is higher compared to 0.3% growth witnessed in November 2018 and 8.4% in October 2018. Cumulatively  for the period April- December 2018, the IIP growth rate comes at 4.6% over the corresponding period of the previous year.

Indices of IIP for the Mining, Manufacturing and Electricity sectors for the month of December 2018 stood at 114.4, 135.5 and 150.3 respectively, with the corresponding growth rates of (-) 1.0%, 2.7% and 4.4% as compared to December 2017. The cumulative growth in these three sectors during April-December 2018 over the corresponding period of 2017 has been 3.1%, 4.7% and 6.4% respectively.

In terms of industries, thirteen out of the twenty three industry groups in the manufacturing sector have shown positive growth during the month of December 2018 on yearly basis.

source: tradingeconomics.com
Under manufacturing sector - industry group tobacco products have shown the highest positive growth of 27.9% followed by 17.9% in  other transport equipment’ and 16.5% in wearing apparel.  On the other hand, furniture segment has shown the highest negative growth of (-) 18.7% followed by (-) 16.4% in other manufacturing and (-) 5.4 in coke and refined petroleum products’.

As per Use-based classification, the growth rates in December 2018 over December 2017 are (-) 1.2% in Primary goods, 5.9% in Capital goods, (-) 1.5% in Intermediate goods and 10.1% in Infrastructure/ Construction Goods.

Consumer durables and Consumer non-durables have recorded growth of 2.9% and 5.3% respectively.