India’s industrial manufacturing for February grew by 5.7 per cent primarily due to the nice efficiency of the mining sector, as per an official information launched on Friday. This marks a slight deceleration in comparison with the 6 per cent development recorded in February 2023. In keeping with the assertion issued by authorities, the Nationwide Statistical Workplace (NSO) disclosed that the manufacturing sector’s output expanded by 5 per cent in February 2024, indicating a lower from the 5.9 per cent development noticed in the identical month of the earlier yr.
In keeping with the official launch, for February, the Fast Estimates of Index of Industrial Manufacturing (IIP) with base 2011-12 stood at 147.2. The indices of Industrial Manufacturing for the mining, manufacturing, and electrical energy sectors for the February stood at 139.6, 144.5, and 187.1 respectively.
Index of Industrial Manufacturing (IIP) for February 2024: Use Based mostly Classification pic.twitter.com/08S4YVo0BY
— Ministry of Statistics & Programme Implementation (@GoIStats) April 12, 2024
February 2024 witnessed an 8 per cent improve in mining manufacturing and a 7.5 per cent surge in energy output, demonstrating promising development in these sectors. The general development trajectory of the IIP stood at 5.9 per cent throughout April 2023-February 2024, surpassing the 5.6 per cent enlargement recorded within the corresponding interval of the earlier yr.
This information provides insights into India’s industrial panorama, highlighting each areas of development and sectors experiencing a slowdown, shaping financial forecasts and insurance policies transferring ahead.
In keeping with the information, infrastructure/development items reported a development of 8.5 in February 2024 towards a 9 per cent enlargement within the year-ago interval.
The info additionally confirmed that the output of main items logged 5.9 per cent development in February this yr, down from 7 per cent a yr in the past. The enlargement within the intermediate items phase was 9.5 per cent within the month beneath evaluation, increased than the 1 per cent recorded in the identical interval a yr in the past.
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