<p>Showing signs of recovery, industrial production grew at 19-month high of 4.7 per cent in May due to improved performance of manufacturing, mining and power sectors and higher output of capital goods.<br /><br /></p>.<p>The output, as measured by the Index of Industrial Production (IIP), had contracted by 2.5 per cent in the same month of last year.<br /><br />IIP data for April remained unchanged at 3.4 per cent after revision of the provisional estimates released last month, according to the information released by the Central Statistics Office (CSO).<br /><br />The IIP's previous high was recorded in October 2012 at 8.4 per cent. During the April-May period of the current fiscal, the IIP recorded a growth of 4 per cent, as against contraction of 0.5 per cent in the first two months of 2013-14.<br /><br />Manufacturing, which constitutes over 75 per cent of the index, grew 4.8 per cent in May, compared to decline in output by 3.2 per cent a year ago. For April-May, the sector recorded a growth of 3.7 per cent, compared to a contraction of 0.7 per cent in the year-ago period.<br /><br />Production of capital goods, a barometer of demand, grew by 4.5 per cent in May, in sharp contrast to a contraction in output by 3.7 per cent in same month of last year.<br /><br />For April- May, the output has grown by 9.3 per cent, compared to the contraction of 2.1 per cent in the first two months of 2013-14.<br /><br />The mining sector grew by 2.7 per cent in May as against a dip of 5.9 per a year ago. For April-May, the segment grew by 2.6 per cent, compared to decline in production by 4.7 per cent in the year-ago period.<br /><br />Power generation increased by 6.3 per cent in May as compared to 6.2 per cent growth in the same month of 2013. In April-May, power output grew by 9 per cent compared to a growth of 5.3 per cent in the year-ago period. Overall, 16 of the 22 industry groups in manufacturing showed positive growth in May.<br /><br />According to the IIP data, output of consumer goods grew by 3.7 per cent in May compared to the contraction of 6.6 per cent a year ago. However, in April-May, the segment showed a contraction of 0.7 per cent compared to a decline of 2.5 per cent the same period of 2013-14.<br /><br />The consumer durables segment grew by 3.2 per cent in May as against a decline of 18.3 per cent previously. For April- May, it declined by 2.5 per cent as against a contraction of 14 per cent in the first two months of last fiscal.<br /><br />Production of consumer non-durables also grew by 3.9 per cent, compared with a growth of 3.8 per cent in May last year. For April-May, the segment has grown by 0.5 per cent, compared to a growth of 7.6 per cent a year ago.<br /><br />Output of intermediate goods expanded 2.7 per cent in May, compared to 1.1 per cent a year ago. For April-May the output has grown by 3 per cent, compared to 1.8 per cent in the first two months of last fiscal.<br /><br />Basic goods output grew 6.3 per cent in May, against a dip of 0.3 per cent a year ago. For April-May, the segment has grown by 6.8 per cent compared a growth 0.5 per cent in the same period of 2013-14.</p>
<p>Showing signs of recovery, industrial production grew at 19-month high of 4.7 per cent in May due to improved performance of manufacturing, mining and power sectors and higher output of capital goods.<br /><br /></p>.<p>The output, as measured by the Index of Industrial Production (IIP), had contracted by 2.5 per cent in the same month of last year.<br /><br />IIP data for April remained unchanged at 3.4 per cent after revision of the provisional estimates released last month, according to the information released by the Central Statistics Office (CSO).<br /><br />The IIP's previous high was recorded in October 2012 at 8.4 per cent. During the April-May period of the current fiscal, the IIP recorded a growth of 4 per cent, as against contraction of 0.5 per cent in the first two months of 2013-14.<br /><br />Manufacturing, which constitutes over 75 per cent of the index, grew 4.8 per cent in May, compared to decline in output by 3.2 per cent a year ago. For April-May, the sector recorded a growth of 3.7 per cent, compared to a contraction of 0.7 per cent in the year-ago period.<br /><br />Production of capital goods, a barometer of demand, grew by 4.5 per cent in May, in sharp contrast to a contraction in output by 3.7 per cent in same month of last year.<br /><br />For April- May, the output has grown by 9.3 per cent, compared to the contraction of 2.1 per cent in the first two months of 2013-14.<br /><br />The mining sector grew by 2.7 per cent in May as against a dip of 5.9 per a year ago. For April-May, the segment grew by 2.6 per cent, compared to decline in production by 4.7 per cent in the year-ago period.<br /><br />Power generation increased by 6.3 per cent in May as compared to 6.2 per cent growth in the same month of 2013. In April-May, power output grew by 9 per cent compared to a growth of 5.3 per cent in the year-ago period. Overall, 16 of the 22 industry groups in manufacturing showed positive growth in May.<br /><br />According to the IIP data, output of consumer goods grew by 3.7 per cent in May compared to the contraction of 6.6 per cent a year ago. However, in April-May, the segment showed a contraction of 0.7 per cent compared to a decline of 2.5 per cent the same period of 2013-14.<br /><br />The consumer durables segment grew by 3.2 per cent in May as against a decline of 18.3 per cent previously. For April- May, it declined by 2.5 per cent as against a contraction of 14 per cent in the first two months of last fiscal.<br /><br />Production of consumer non-durables also grew by 3.9 per cent, compared with a growth of 3.8 per cent in May last year. For April-May, the segment has grown by 0.5 per cent, compared to a growth of 7.6 per cent a year ago.<br /><br />Output of intermediate goods expanded 2.7 per cent in May, compared to 1.1 per cent a year ago. For April-May the output has grown by 3 per cent, compared to 1.8 per cent in the first two months of last fiscal.<br /><br />Basic goods output grew 6.3 per cent in May, against a dip of 0.3 per cent a year ago. For April-May, the segment has grown by 6.8 per cent compared a growth 0.5 per cent in the same period of 2013-14.</p>