New Delhi: India's industrial production grew to a seven-month high of 5.9 percent in May 2024, mainly due to strong performance in the energy and mining sectors, according to official data released on Friday.
Factory production growth, measured in terms of the Index of Industrial Production (IIP), was 5 percent in April, 5.4 percent in March, 5.6 percent in February and 4.2 percent cent in January 2024.
The IIP was 4.4 percent in December and 2.5 percent in November 2023.
The previous high of IIP was recorded at 11.9 percent in October 2023.
During the April-May period of this fiscal year, IIP growth was 5.4 per cent, compared to 5.1 per cent in the previous fiscal year.
India's industrial production index grew by 5.7 percent in May 2023, according to a statement from the Ministry of Statistics and Program Implementation.
According to the data, mining production growth accelerated to 6.6 percent in May from an expansion of 6.4 percent in the year-ago month.
Manufacturing sector growth slowed to 4.6 percent in May compared with 6.3 percent a year ago.
Power generation increased by an impressive 13.7 percent in May against a stable growth of 0.9 percent in the same month last year.
According to the usage base classification, the growth of the capital goods segment fell to 2.5 percent in May 2024 from 8.1 percent in the same period of the previous year.
In May this year, production of consumer durables expanded by 12.3 percent compared to 1.5 percent growth in May 2023.
Non-durable consumer goods production growth slowed 2.3 percent during the reporting month, down from 8.9 percent growth in May 2023.
According to the data, infrastructure/construction goods recorded a growth of 6.9 percent in May 2024, against an expansion of 13 percent in the same period of the previous year.
The data also showed that production of primary goods recorded a growth of 7.3 percent in May this year, up from 3.6 percent a year earlier.
The expansion in the intermediate goods segment was 2.5 percent in the month analyzed, higher than the 3.4 percent registered a year ago.
Factory production growth, measured in terms of the Index of Industrial Production (IIP), was 5 percent in April, 5.4 percent in March, 5.6 percent in February and 4.2 percent cent in January 2024.
The IIP was 4.4 percent in December and 2.5 percent in November 2023.
The previous high of IIP was recorded at 11.9 percent in October 2023.
During the April-May period of this fiscal year, IIP growth was 5.4 per cent, compared to 5.1 per cent in the previous fiscal year.
India's industrial production index grew by 5.7 percent in May 2023, according to a statement from the Ministry of Statistics and Program Implementation.
According to the data, mining production growth accelerated to 6.6 percent in May from an expansion of 6.4 percent in the year-ago month.
Manufacturing sector growth slowed to 4.6 percent in May compared with 6.3 percent a year ago.
Power generation increased by an impressive 13.7 percent in May against a stable growth of 0.9 percent in the same month last year.
According to the usage base classification, the growth of the capital goods segment fell to 2.5 percent in May 2024 from 8.1 percent in the same period of the previous year.
In May this year, production of consumer durables expanded by 12.3 percent compared to 1.5 percent growth in May 2023.
Non-durable consumer goods production growth slowed 2.3 percent during the reporting month, down from 8.9 percent growth in May 2023.
According to the data, infrastructure/construction goods recorded a growth of 6.9 percent in May 2024, against an expansion of 13 percent in the same period of the previous year.
The data also showed that production of primary goods recorded a growth of 7.3 percent in May this year, up from 3.6 percent a year earlier.
The expansion in the intermediate goods segment was 2.5 percent in the month analyzed, higher than the 3.4 percent registered a year ago.
