IIP Recorded Positive Growth In November - Jan 13, 2009

The Index of Industrial Production numbers for November 2008, stood at 2.4% as compared to negative 0.4% of previous month. It was 4.9% during the corresponding month of previous year. Mining output is higher 0.5% as against 6.3% of previous year and manufacturing output is up 2.4% against 4.7% (YoY). Capital goods output is down 2.3% vs 24.2% (YoY) and consumer goods output is up 4.4% vs negative 2.9% for the corresponding month of previous year. In line with this, the growth in the consumer segment was lower than the average 6.2% YoY increase in the April-October months. However, monthly momentum in capital goods rose 3.5% mom versus a 9.3% mom fall in October.

In November, the monthly momentum grew 1.7% month on month versus a 3% MoM fall in October. In line with this, for the April-November months, IIP rose 3.9% YoY versus 9.3% YoY in the same period previous year.