INSUBCONTINENT EXCLUSIVE:
IIP Data: Industrial production grew by one per cent in December 2020
The industrial
production in the country grew by one per cent in December 2020, after registering a contraction of 1.9 per cent in November 2020,
government data showed on Friday, February 12
According to the Index of Industrial Production (IIP) data released by the Ministry of Statistics and Programme Implementation (MoSPI), the
manufacturing sector output grew by 1.6 per cent in December 2020
The mining output declined by 4.8 per cent, while power generation grew 5.1 per cent during the month
The IIP had grown by 0.4 per cent in December 2019
Industrial production has been hit due to the COVID-19 pandemic since March last year when IIP contracted by 18.7 per cent during the month
electricity sectors for the month of December 2020 stand at 115.1, 137.5, and 158.0 respectively.According to use-based classification, the
indices stand at 129.2 for primary goods, 94.3 for capital goods, 147.5 for intermediate goods, and 147.7 for infrastructure or construction
What is significant is the pickup in both consumer durables and non- durables as also infra goods
While the general direction be of improvement in the reading, it may be too early to make any inference based on IIP numbers of a month or
