The growth rates of mining, manufacturing and power sectors of the index in May 2024 were 6.6 percent, 4.6 percent and 13.7 percent respectively as compared to the same month last year.
Within the manufacturing sector, the growth rates of the top three positive contributors to IIP growth for the month of May 2024 were “Manufacturing of basic metals” (7.8 per cent), “Manufacturing of pharmaceuticals, medicinal chemicals and botanical products” (7.8 per cent), as per the official data, 7.5 percent), and "manufacture of electrical equipment" (14.7 percent).
Use-based classification data shows that production of consumer durables such as refrigerators, washing machines and TVs increased by 12.3 per cent, a positive sign of rising demand for these items in the growing economy.
However, the production of capital goods, which includes machines that produce goods and, thus, reflects real investment taking place in the economy, grew at a rate of 2.5 percent.
Production of consumer non-durable goods such as soap and cosmetics rose 2.3 percent.
Infrastructure and construction-related goods witnessed a marginal growth of 6.9 per cent in May 2024.
Factory output growth, measured in terms of IIP, was up 5.7 per cent in May 2023.
Within the manufacturing sector, the growth rates of the top three positive contributors to IIP growth for the month of May 2024 were “Manufacturing of basic metals” (7.8 per cent), “Manufacturing of pharmaceuticals, medicinal chemicals and botanical products” (7.8 per cent), as per the official data, 7.5 percent), and "manufacture of electrical equipment" (14.7 percent).
Use-based classification data shows that production of consumer durables such as refrigerators, washing machines and TVs increased by 12.3 per cent, a positive sign of rising demand for these items in the growing economy.
However, the production of capital goods, which includes machines that produce goods and, thus, reflects real investment taking place in the economy, grew at a rate of 2.5 percent.
Production of consumer non-durable goods such as soap and cosmetics rose 2.3 percent.
Infrastructure and construction-related goods witnessed a marginal growth of 6.9 per cent in May 2024.
Factory output growth, measured in terms of IIP, was up 5.7 per cent in May 2023.
