Quick Estimates of Index of Industrial Production

The Quick Estimates of Index of Industrial Production (IIP) with base 2004-05 for the month of December 2012 havebeen released by the Central Statistics Office of the Ministry of Statistics and Programme Implementation. IIP is compiled using data received from 16 source agencies viz. Department of Industrial Policy & Promotion (DIPP); Indian Bureau of Mines; Central Electricity Authority; Joint Plant Committee; Ministry of Petroleum & Natural Gas; Office of TextileCommissioner; Department of Chemicals & Petrochemicals; Directorate of Sugar; Department of Fertilizers; Directorate ofVanaspati, Vegetable Oils & Fats; Tea Board; Office of Jute Commissioner; Office of Coal Controller; Railway Board; Office of Salt Commissioner and Coffee Board.

2. The General Index for the month of December 2012 stands at 179.3, which is 0.6% lower as compared to the level in the month of December 2011. The cumulative growth for the period April-December 2012-13 over the corresponding period of the previous year stands at 0.7%.

3. The Indices of Industrial Production for the Mining, Manufacturing and Electricity sectors for the month of December 2012 stand at 131.3, 191.3 and 157.6 respectively, with the corresponding growth rates of  (-) 4.0%,     (-) 0.7% and 5.2% as compared to December 2011 (Statement I). The cumulative growth in the three sectors during April-December 2012-13 over the corresponding period of 2011-12 has been (-) 1.9%, 0.7% and 4.6% respectively.

4. In terms of industries, twelve (12) out of the twenty two (22) industry groups (as per 2-digit NIC-2004) in themanufacturing sector have shown negative growth during the month of December 2012 as compared to the correspondingmonth of the previous year (Statement II). The industry group  ‘Medical, precision & optical instruments, watches and clocks’ has shown the highest negative growth of 27.4%, followed by 24.0% in ‘Publishing, printing and reproduction of recorded media’  and 20.8% in ‘Office, accounting and computing machinery’. On the other hand, the industry group ‘Electrical machinery and apparatus n.e.c.’ has shown a positive growth of 48.2% followed by 18.8% in ‘Furniture; manufacturingn.e.c.’ and 9.3% in ‘Coke, refined petroleum products & nuclear fuel’.

5. As per Use-based classification, the growth rates in December 2012 over December 2011 are 2.6% in Basic goods, (-) 0.9% in Capital goods and               (-) 0.1% in Intermediate goods (Statement III).  The Consumer durables and Consumer non-durables have recorded growth of (-) 8.2% and (-) 1.4% respectively, with the overall growth in Consumer goods being (-) 4.2%.

6. Some of the important items showing high negative growth during the current month over the same month inprevious year include ‘Block Board’ [(-) 29.9%], ‘Newspapers’ [(-) 24.8%], ‘Furnace Oil’ [(-) 25.5%], ‘Grinding wheels’ [(-) 44.5%], ‘Boilers’ [(-) 24.5%], ‘Stampings & Forgings’     [(-) 34.8%], ‘Razor Blades/Safety Blades’ [(-) 23.5%], ‘Fasteners (excl. Zip Fasteners)’    [(-) 29.9%], ‘Tractors’ [(-) 21.0%], ‘Plastic Machinery incl. Moulding Machinery’ [(-) 22.3%], ‘Telephone Instruments including Mobile Phones and Accessories’ [(-) 21.1%] and ‘Commercial Vehicles’ [(-) 19.8%].

                                                          

7. Some of the other important items showing high positive growth are: ‘Molasses’ (33.5%), ‘Aerated Water & Soft Drinks’ (65.0%), ‘Gas, Liquefied Petroleum’ (18.5%), ‘Petroleum Coke’ (64.9%), ‘Carbon Steel’ (23.7%), ‘CR Sheets’ (23.9%), ‘Conductor, Aluminium’ (82.3%), ‘Cable, Rubber Insulated’ (133.6%), ‘Wood Furniture’ (23.8%) and ‘Gems & Jewellery’ (24.5%).

8. Along with the Q.E. of IIP for the month of December 2012, the indices for November 2012 have undergone the firstrevision and those for September 2012 have undergone the final revision in the light of the updated data received from thesource agencies. It may be noted that these revised indices (first revision) in respect of October 2012 shall undergo final (second) revision along with the release of IIP for the month of February 2013.