<p>New Delhi: India’s <a href="https://www.deccanherald.com/tags/industrial-production">industrial production</a> growth accelerated to a six-month high of 5.2 per cent in November led by a good performance of the manufacturing sector as demand for consumer durables surged in the festive period, as per official data released on Friday.</p>.<p>The Index of Industrial Production (IIP) posted a growth of 3.5 per cent in October. In November 2023, IIP growth stood at 2.5 per cent. Hence, the strong showing in November 2024 is partly also due to the low base.</p>.<p>Manufacturing, which is the biggest component of IIP, posted a year-on-year growth of 5.8 per cent in November, the highest in eight months.</p>.<p>The growth was led by a 13.1 per cent surge in the consumer durables segment. “The festive season led to a sharp rise in production of consumer discretionary products. Consumer durables saw the strongest rise in the index among major production sectors,” said Dharmakirti Joshi, Chief Economist at CRISIL.</p>.SEBI issues guidelines to revamp nomination process for mutual funds.<p>The rise was seen across low and high value items, including clothing, electronics, furniture and automobiles.</p>.<p>However, the consumer non-durables segment posted a weak growth of 0.6 per cent during the month.</p>.<p>“The uptick in consumer durables may be due to the festive demand and some discretionary spending. This is not a trend and needs to be monitored closely,” said Paras Jasrai, Senior Economic Analyst at India Ratings and Research.</p>.<p>The other two segments of the IIP also witnessed acceleration in growth. Electricity output growth more than doubled to 4.4 per cent in November from 2 per cent in the previous month while mining output increased by 1.9 per cent from 0.9 per cent in October, data released by the National Statistical office showed.</p>.<p>Production of infrastructure and construction goods increased by 10 per cent and capital goods by 9 per cent in November year-on-year led by increased momentum in the government capital expenditure (capex) after a lull in the first six months of the current fiscal.</p>.<p>Acceleration in the IIP growth number boosts hope for better overall economic growth in the second half of 2024-25. “The effects of good agricultural output, easing food inflation and improving government capex are expected to support growth in the second half of this fiscal,” said Joshi. </p>
<p>New Delhi: India’s <a href="https://www.deccanherald.com/tags/industrial-production">industrial production</a> growth accelerated to a six-month high of 5.2 per cent in November led by a good performance of the manufacturing sector as demand for consumer durables surged in the festive period, as per official data released on Friday.</p>.<p>The Index of Industrial Production (IIP) posted a growth of 3.5 per cent in October. In November 2023, IIP growth stood at 2.5 per cent. Hence, the strong showing in November 2024 is partly also due to the low base.</p>.<p>Manufacturing, which is the biggest component of IIP, posted a year-on-year growth of 5.8 per cent in November, the highest in eight months.</p>.<p>The growth was led by a 13.1 per cent surge in the consumer durables segment. “The festive season led to a sharp rise in production of consumer discretionary products. Consumer durables saw the strongest rise in the index among major production sectors,” said Dharmakirti Joshi, Chief Economist at CRISIL.</p>.SEBI issues guidelines to revamp nomination process for mutual funds.<p>The rise was seen across low and high value items, including clothing, electronics, furniture and automobiles.</p>.<p>However, the consumer non-durables segment posted a weak growth of 0.6 per cent during the month.</p>.<p>“The uptick in consumer durables may be due to the festive demand and some discretionary spending. This is not a trend and needs to be monitored closely,” said Paras Jasrai, Senior Economic Analyst at India Ratings and Research.</p>.<p>The other two segments of the IIP also witnessed acceleration in growth. Electricity output growth more than doubled to 4.4 per cent in November from 2 per cent in the previous month while mining output increased by 1.9 per cent from 0.9 per cent in October, data released by the National Statistical office showed.</p>.<p>Production of infrastructure and construction goods increased by 10 per cent and capital goods by 9 per cent in November year-on-year led by increased momentum in the government capital expenditure (capex) after a lull in the first six months of the current fiscal.</p>.<p>Acceleration in the IIP growth number boosts hope for better overall economic growth in the second half of 2024-25. “The effects of good agricultural output, easing food inflation and improving government capex are expected to support growth in the second half of this fiscal,” said Joshi. </p>