HEADLINES:
October 20 2018
IIP grows at 6.6% in July as manufacturing, capital goods shine
14 September 2018

Industrial production grew at 6.6% in July on the back of good performance by the manufacturing sector and higher offtake of capital goods and consumer durables.

Factory output measured in terms of the Index of Industrial Production had expanded by just 1% in July last year, according to the data released by Central Statistics Office (CSO).

The IIP growth for June was also revised downwards to 6.8% from the provisional estimate of 7% released last month, the data showed.

The manufacturing sector recorded a 7% growth in July as against a contraction of 0.1% in the same month year ago.

The consumer durables sector recorded an impressive growth of 14.4% in July against a dip of 2.4% year ago. Capital goods production grew by 3 per cent in July as against decline of 1.1% year ago.

The IIP growth in April-July period was 5.4 % compared to 1.7% year ago.

In terms of industries, 22 out of 23 industry groups in the manufacturing sector showed positive growth during July 2018.

The industry group ‘manufacture of furniture’ has shown the highest positive growth of 42.7% followed by 30.8% in ‘manufacture of computer, electronics and optical products’ and 28.4% in ‘manufacture of tobacco products’

On the other hand, the industry group ‘manufacture of paper and paper products’ and ‘printing and reproduction of recorded media’ have shown the highest negative growth of (-) 2.7% followed by (-) 0.9% in ‘manufacture of machinery and equipment.

 

 

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