India’s industrial output grew by 4.5 per cent as compared a 0.2 per cent growth rate year-on-year during the month of February 2020, according to the data released by the Ministry of Statistics & Programme Implementation (MoSPI) on April 9.
According to National Statistical Office (NSO) data, the manufacturing sector output grew at a rate of 3.2 per cent in February compared to 1.5 per cent in January.
Mining sector output grew at a rate of 10 per cent in February compared to 4.4 per cent in January.
Electricity production grew at a rate of 8.1 per cent in February compared to 3.1 per cent in January.
Primary Products grew at a rate of 7.4 per cent in February compared to 1.8 per cent in January.
Intermediate Goods grew at a rate of 22.4 per cent in February compared to 15.8 per cent in January.
Consumer Durables contracted at a rate of 6.4 per cent in February compared a contraction of 4 per cent in January.
Capital Goods contracted at a rate of 9.7 per cent in February compared a contraction of 4.3 per cent in January.
As far as sectors are concerned, 13 of the 23 industry groups in the manufacturing sector reported positive growth in February 2020.
India’s GDP estimates have reinforced concerns of a worsening slowdown in the economy as households do not spend enough to buoy demand, and businesses do not add or employ more.
