Factory output as measured by the index of industrial production (IIP) showed a decline of 0.1 percent during the 11-month period from April to February, compared with growth of 0.9 percent in the corresponding period a year earlier. (Agencies)
Industrial output for January was revised upward to growth of 0.8 percent from a provisional estimate of 0.1 per cent, according to data released by the Central Statistics Office (CSO). In February 2013, the IIP recorded modest growth of 0.6 percent.
Factory output started to decline in October, when the IIP contracted 1.2 percent, and continued till December, as per CSO data released today.
Manufacturing, which constitutes over 75 percent of the index, declined 3.7 percent in February as against growth of 2.1 percent in the same month a year ago.
During April-February, the sector's output contracted 0.7 percent compared with 1 percent growth previously.
Production of capital goods, a barometer of demand, shrank 17.4 percent, in sharp contrast to an expansion of 9.1 percent in the same month in 2012.
The segment declined 2.5 percent in April-February over a contraction of 7.7 percent in the comparable period.
Overall, 13 of the 22 industry groups in manufacturing showed negative growth in February as compared to the corresponding month of 2012.
Output of consumer goods declined 4.5 percent in February compared with growth of 0.8 percent a year earlier. During April-February, consumer goods output contracted 2.8 percent against growth of 2.5 percent in the corresponding period of 2012-13.
The consumer durables segment contracted 9.3 percent in February as against a decline of 2.6 percent previously. For the April-February period, the segment's output fell 12.2 percent compared with an expansion of 2.7 percent earlier.
Production of consumer non-durables dropped 1.2 percent compared with an increase of 3.2 percent in February last year and for the April-February period, it grew 4.8 percent, at a faster pace than 2.3 percent during the first 11 months of 2012-13.
The intermediate goods segment expanded at 4.2 percent in February compared with a contraction of 0.8 percent a year earlier. During April-February, the segment grew 3.2 percent against 1.5 percent growth previously.
The basic goods segment grew 3.9 percent in February compared to a decline of 1.8 percent earlier, while for April-February, growth was 1.7 percent versus 2.4 percent in the year-ago period.
Power generation increased 11.5 percent in February, compared with an output drop of 3.2 percent in the same month of 2013. Power generation rose 6.2 percent in April-February against growth of 4 percent a year ago.
The mining sector, with a weight of about 14 percent in the IIP, expanded 1.4 percent in February as against a dip of 7.7 per a year earlier. During April-February, mining output shrank 1.1 percent compared with a decline of 2.3 percent a year earlier.
Factory output as measured by the index of industrial production (IIP) showed a decline of 0.1 percent during the 11-month period from April to February, compared with growth of 0.9 percent in the corresponding period a year earlier.