Tuesday, January 12, 2010

Industrial production grew by 11.7% in Nov 2009

The index of industrial production reported strong growth 11.7% in November 2009, fastest growth in last 25 months, ahead of the market expectation of ~10%. The growth was driven by robust growth in manufacturing and mining, which reported a growth of 12.7%yoy and 10.0%yoy as against 2.7%yoy and 0.7%yoy respectively in the corresponding period last year. However, the electricity generation grew by a moderate 3.3% during the month.

The growth in the manufacturing was led by Transport Equipment and Parts (38.3%yoy), Metal Products and Parts (28.4%yoy) and Wood and Wood Products (19.9%yoy). However, the industries which recorded negative growth were Jute and Other Vegetable Fibre Textiles (-11.4%yoy) and Leather and Leather & Fur Products (-4.5%yoy) and Beverages, Tobacco and Related Products (-2.6%yoy).

Consumer durable goods output surged by 37.3% helped by stimulus measures and inventory buildup post festive season. Capital goods also grew at a healthy rate of 12.2% yoy, as against 0.5% in the same month last year.

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