Industrial output up at 8.6% in Feb '08

New Delhi, Apr 11 (UNI) The country's industrial output rose to 8.6 per cent compared to February 2007 propelled by positive growth in 15 of the 17 industrial groups.

According to the Quick Estimates of Index of Industrial Production (IIP) for February 2008, released by the Central Statistical Organisation of the Ministry of Statistics and Programme Implementation here today, it was higher than the previous month's data of 5.8 per cent.

Cumulative growth for April-February 2007-08 was at 8.7 per cent over the corresponding period last year.

Manufacturing production grew by 8.6 per cent during the month from a year earlier, compared with a provisional annual growth of 5.9 per cent in January.

As many as 15 of the 17 industry groups showed positive growth during February 2008 against February 2007 led by 'Jute and Other Vegetable Fibre Textile (except cotton)' with the highest growth of 864.1 per cent.

This was followed by 18.8 per growth in 'Leather and Leather&Fur products' and 'Metal Products and Parts, except Machinery and Equipment' (18.2 per cent).

However, 'Wood and Wood Products; Furniture and Fixtures' gave a negative growth of 13.8 per cent followed by 'Textile Products (including Wearing Apparel)' (1.7 per cent).

The Indices of Industrial Production (IIP) for the mining, manufacturing and electricity sectors for February 2008 was at 182.8, 293.9, and 211.3 respectively, with corresponding growth rates of 7.5 per cent, 8.6 per cent and 9.8 per cent compared to February 2007.

Cumulative growth during April-February 2007-08 over the corresponding period of 2006-07 in the three sectors were 5.1 per cent, 9.1 per cent and 6.6 per cent respectively, which moved the overall growth in the General Index to 8.7 per cent.

Sectoral growth rates in February 2008 over February 2007 were 7.3 per cent in basic goods, 10.4 per cent in capital goods and 8.2 per cent in intermediate goods. Consumer durables and consumer non-durables recorded growth of 3.3 per cent and 11 per cent respectively, with the overall growth in consumer goods being 9.2 per cent.

Alongwith this, the indices for January 2008 have undergone the first revision and those for November 2007 the second (final) revision in the light of the updated data received from the source agencies.

UNI SD SBA VC1704