IIP for January crashes to 5.3% from 11.6% YoY

New Delhi, Mar 12 (UNI) A slump in the capital good has meant that the quick estimates of general index of industrial production (IIP) declined to 5.3 per cent for the month of January 2008 as against 11.6 for the same month last year.

Decline in the IIP are the early symptoms of a slowdown in the economy believe the economist as IIP for April-January now stand at 8.7 per cent.

Capital goods have been hit the hardest as growth slowed to 2.1 per cent in January compared to 16.3 in the same month last year.

Consumer durables slowed down to 3.1 per cent compared to 5.3 per cent in the corresponding month last year.

No sector was left untouched as growth slowed across the board.

Consumer goods now clock at 7 per cent in January compared to 8.2 per cent in the same month last year.

Mining slipped to 1.8 per cent in January from 7.7 per cent in the same month last year while growth in Electricity slipped to 3.3 per cent in January from 8.3 per cent in the same month last year.

Consumer non-durables was the only sector which bucked the trend and saw growth of 10.1 per cent in January from 9.1 per cent in the same month last year.

The revised Industrial growth for December now stands at 7.7 per cent from 7.6 per cent.

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