India's September IIP slows to 4.4 pct Y-o-Y

India's index of industrial production (IIP) growth slowed further 4.4 percent to 325.6 for the month of September 2010 as compared to 8.2 percent in the month of September 2009, according to a statement by the Central Statistics Office of the Ministry of Statistics and Programme Implementation.

However, the cumulative growth stands at 10.2 percent for the half yearly period of this fiscal over the corresponding period of the previous year.

The index for the mining sector grew 5.2 percent to 184.1 as compared to the same period last year. The index for the manufacturing and electricity sectors grew 4.5 percent and 1.7 percent to 355.2 and 239.9 respectively for the month of September 2010.

The cumulative growth in the mining, manufacturing and electricity sectors have been 8.7 percent, 11.0 percent and 3.8 percent respectively during half yearly period, which moved the overall growth in the General Index to 10.2 percent from 6.3 percent.

In terms of industries, as many as fourteen out of the seventeen industry groups have shown positive growth during the month of September 2010 as compared to the corresponding month of the previous year.

The industry group ‘leather and fur products’ have shown the highest growth of 26.8 percent, followed by 21.6 percent in ‘transport equipment and parts’ and 13.7 percent in ‘rubber, plastic, petroleum and coal products’.

On the other hand, the industry group ‘other manufacturing industries’ have shown a negative growth of 3.1 percent followed by 2.6 percent in ‘metal products and parts, except machinery and equipment’.

As per use-based classification, the Sectoral growth rates in September 2010 over September 2009 are 3.5 percent in basic goods, (-) 4.2 percent in capital goods and 10.3 percent in Intermediate goods. The consumer durables and consumer non-durables have recorded growth of 10.9 percent and 2.5 percent respectively, with the overall growth in consumer goods being 5.2 percent.