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The Southern India Mills’ Association

Committed to Foster the Growth of the Textile Industry

Industrial growth falls to 17-month low of 0.5%

Manufacturing sector contracts in Nov.
Industrial output growth dropped to a 17-month low of 0.5% in November on account of contraction in manufacturing sector, particularly consumer and capital goods.
Factory output, as measured in terms of the Index of Industrial Production (IIP), had grown by 8.5% in November 2017, as per data released by the Central Statistics Office (CSO).
The previous low was in June 2017, when IIP growth contracted by 0.3%. Growth for October 2018 was revised upwards to 8.4% from 8.1%. During April-November period, industrial output grew 5% compared with 3.2% in the same period of the previous fiscal.
The manufacturing sector, which constitutes 77.63% of the index, recorded a contraction of 0.4% in November as against a growth of 10.4% a year ago.
The mining sector posted 2.7% growth during the month as against 1.4% in November 2017.
In terms of industries, 10 out of 23 industry groups in the manufacturing sector showed positive growth during November 2018.