Economy
IIP data: India's Industrial Output Rises 19.6% In May Led By Strong Performance In Manufacturing, Power And Mining Sector
An automobile factory in India. (Manoj Patil/Hindustan Times via Getty Images)
India's factory output growth strengthened to a 12-month high of 19.6 per cent in May 2022, according to data released by the Ministry of Statistics & Programme Implementation.
The growth was driven strong performance by the manufacturing, power, and mining sectors.
While the index of industrial production(IIP) for the manufacturing for the month of May 2022 stood at 134.5, the mining and electricity sectors stood at 120.1 and 199.9 respectively.
The IIP translates in to a 20.6 expansion for the manufacturing sector compared to a growth of 32.1 percent recorded in the year-ago period. The power sector expanded by 23.5 percent growth against 7.5 percent a year ago, while the mining sector witnessed an expansion of 10.9 percent in May 2022 compared to a growth of 23.6 percent last year.
In the month of May, the indices for industrial production stood at 144.5 for primary goods, 95.3 for capital goods, 152.2 for intermediate goods and 153.1 for infrastructure and construction goods for the month of May 2022.
Capital goods output, which is a seen as good proxy of investment, showed a rise of 54 percent in May 2022 against a jump of 74.9 percent in the year-ago month.
IIP had grown 27.6% in May last year, due to low-base effect.
Introducing ElectionsHQ + 50 Ground Reports Project
The 2024 elections might seem easy to guess, but there are some important questions that shouldn't be missed.
Do freebies still sway voters? Do people prioritise infrastructure when voting? How will Punjab vote?
The answers to these questions provide great insights into where we, as a country, are headed in the years to come.
Swarajya is starting a project with an aim to do 50 solid ground stories and a smart commentary service on WhatsApp, a one-of-a-kind. We'd love your support during this election season.
Click below to contribute.
Latest
