Manufacturing Sector Growth Declines To 9.8% In Apr-Nov ''07

Mumbai: Manufacturing sector growth declines to 9.8 per cent during April-November 2007 as against 11.8 per cent during the year-ago period, the Reserve Bank said. The moderation in the sector''s growth was due to decelerated/negative growth of 11 out of the 17 manufacturing industry groups accounting for 49.3 per cent weight in the index of industrial production (IIP), it said in its Macroeconomic and Monetary Developments Review.

These included machinery and equipment, basic metal and alloy industries, rubber, plastic, petroleum and coal products, cotton textiles, non-metallic mineral products and transport equipment and parts, among others. Metal products and parts'' group recorded a decline due to the performance of tin metal containers, welded link chains and razor blades. The leather and leather and fur products'' group, however, made a turnaround to register positive growth during the period. On the IIP, the apex bank said IIP growth moderated to 9.2 per cent during April-November 2007 from 10.9 per cent during the year-ago period. Capital and intermediate goods sectors recorded a double-digit growth during April-November 2007 while growth in the consumer durables segment declined to 5.2 per cent from 9.9 per cent in the same period.