New Delhi, Feb. 12: Growth in industrial production remained negative for the third month in a row — contracting 0.6 per cent in December, mainly because of sluggishness in the manufacturing sector.
Industrial production fell 0.6 per cent in December on a year-on-year basis, the third straight month of decline.
A sluggish growth in manufacturing was behind the weak show. Industrial output for the April-December period of this fiscal has, thus, contracted 0.1 per cent compared with a growth of 0.7 per cent in the same period of 2012-13.
The manufacturing sector, which constitutes over 75 per cent of the index, declined 1.6 per cent in December against a contraction of 0.8 per cent in the year-ago period.
During April-December, the sector’s output contracted 0.6 per cent against a growth of 0.6 per cent in the year-ago period. Overall, consumer goods output declined 5.3 per cent in December compared with a contraction of 3.6 per cent in the same month in 2012.
During April-December, consumer goods output contracted 3 per cent compared with a 2.7 per cent growth in the year-ago period.
The consumer durables segment contracted 16.2 per cent in December against a decline of 8.1 per cent in the same month in 2012.
For the April-December period, the segment declined 12.9 per cent compared with a growth of 3.7 per cent in the same period in 2012. Overall, 8 out of 22 industry groups in the manufacturing sector have shown negative growth in December.
Meanwhile, contraction in the index of industrial production (IIP) during November has been revised to 1.3 per cent from the provisional estimate of 2.1 per cent dip.
Retail inflation fell for the second consecutive month and eased to a 24-month low of 8.79 per cent in January mainly because of a drop in food prices.
Inflation as measured by the Consumer Price Index (CPI) for December was 9.87 per cent, down from 11.16 per cent in the previous month.
Inflation in food and beverages was 9.9 per cent in January against 12.16 per cent in the previous month.
Vegetable prices rose 21.91 per cent in January against 38.76 per cent in the previous month. Fruit prices rose 15.6 per cent compared with 14.64 per cent in December.