Thursday, April 9, 2009

Quick Estimates of Index of Industrial Production and Use-based Index (Base 1993-94=100) for the month of February, 2009.

The Quick Estimates of Index of Industrial Production (IIP) with base 1993-94 for the month of February 2009 have been released by the Central Statistical Organisation of the Ministry of Statistics and Programme Implementation. The General Index stands at 272.8, which is 1.2% lower as compared to the level in the month of February 2008. The cumulative growth for the period April-February 2008-09 stands at 2.8% over the corresponding period of the pervious year. 

2. The Indices of Industrial Production for the Mining, Manufacturing and Electricity sectors for the month of February 2009 stand at 180.6, 292.7, and 212.7 respectively, with the corresponding growth rates of (-)1.6%, (-)1.4% and 0.7% as compared to February 2008. The cumulative growth during April-February, 2008-09 over the corresponding period of 2007-08 in the three sectors have been 2.4%, 2.8% and 2.4% respectively, which moved the overall growth in the General Index to 2.8%. 

3. In terms of industries, as many as eight (8) out of the seventeen (17) industry groups (as per 2-digit NIC-1987) have shown positive growth during the month of February 2009 as compared to the corresponding month of the previous year. The industry group ‘Machinery and Equipment other than Transport Equipment’ have shown the highest growth of 15.6%, followed by 12.6% in ‘Other Manufacturing Industries’ and 6.3% in ‘Beverages, Tobacco and Related Products’. On the other hand, the industry group ‘Metal Products and Parts, except Machinery and Equipment’ have shown a negative growth of 31.3% followed by 28.1% in ‘Food Products‘ and 16.5% in ‘Wood and Wood Products; Furniture and Fixtures’. 

4. As per Use-based classification, the Sectoral growth rates in February 2009 over February 2008 are (-)0.4% in Basic goods, 10.4% in Capital goods and (-)5.4% in Intermediate goods. The Consumer durables and Consumer non-durables have recorded growth of 5.7% and (-)5.5% respectively, with the overall growth in Consumer goods being (-)3.0%. 

5. Alongwith the Quick Estimates of IIP for February 2009, the indices for January 2009 have undergone the first revision and those for November 2008 have undergone the second (final) revision in the light of the updated data received from the source agencies. (It may be noted that revised indices (first revision) in respect of December 2008 have already been released in March 2009 and these indices shall undergo final (second) revision in May 2009). 

6. Statements giving Quick Estimates of the Index of Industrial Production at Sectoral, 2-digit level of National Industrial Classification (NIC)-1987 and by Use-based classification for the month of February 2009, along with the growth rates over the corresponding month of previous year, including the cumulative indices and growth rates, are enclosed.

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