New Delhi: The industrial production growth in the country slipped to 4.3% in December. The industrial production growth was at 7.3% in November 2022. Data released by the National Statistical Office (NSO) revealed this. As per the data, the subdued performance of the manufacturing sector is the main reason for this downfall.
However, there was improvement on an annual basis as the factory output growth measured in terms of the stood at 1 per cent in December 2021. Index of Industrial Production (IIP) manufacturing sector’s output grew by 2.6% in December 2022 from 0.6% a year ago. The growth stood at 6.4% in the preceding month of November 2022.
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Mining output rose by 9.8% during December 2022. It was at 2.6% in December 2021. Power generation increased by 10.4% in December 2022 compared to 2.8% in the year-ago month. As per use-based classification, the capital goods segment recorded a growth of 7.6% in December against a decline of 3% in the corresponding month of the last fiscal.
Consumer durables output declined by 10.4% compared to a contraction of 1.9% a year ago. Consumer non-durable goods output expanded by 7.2%, as against a growth of 0.3% earlier. The intermediate goods output growth declined to 0.3% from 1 per cent earlier. In the nine months of the fiscal (April-December), the growth in IIP works out to be 5.4%, down from 15.3% in the year-ago period.
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