12 January,2009 01:42 PM IST | | PTI
After contracting for the first time in 15 years in the previous month, industrial production recovered to grow by 2.4 per cent in November 2008, even though lagging behind the 4.9 per cent in the same month last year.
For the first eight months, industrial output, as measured by the Index of Industrial Production (IIP), rose by 3.9 per cent against 9.2 per cent in the corresponding period of 2007-08.
Meanwhile, the industrial growth figure for October 2008 was revised up to -0.3 per cent from -0.4 per cent. Manufacturing, accounting for around 80 per cent of the index, grew by 2.4 per cent in November against 4.7 per cent, while electricity generation rose by 3.1 per cent against 5.8 per cent and mining output was up by 0.5 per cent from 6.3 per cent.
However, capital goods and consumer durables production sank in November. The November data do not take into account the impact of the stimulus packages announced in December and the figures for the next month may be better.
ALSO READ
Rupee falls 3 paise to close at 83.69 against US dollar post Union Budget 2024
SC orders Bengal to provide accomodation, security equipment for CISF at RG Kar
ED arrests retired KIADB officer for conspiring with brokers
Navi Mumbai: LED lamps that blind flamingos at DPS lake to go
100 Industrialists sought transfer of lease: Minister
Infrastructure growth slows to 2.2 pc in Nov
Growth in India's six core infrastructure industries slowed to 2.2 per cent in November 2008 as petroleum refinery products, electricity production and finished steel showed poor performance.
The six core infrastructure industries - crude oil, petroleum refinery products, coal, electricity, cement and finished carbon steel - had registered a growth rate of 5.1 per cent in November 2007.
During April-November 2008-09, the core industries registered a growth rate of 3.6 per cent as against 6.4 per cent in the corresponding period previous year.
Displaying poor performance, petroleum refinery products production recorded a decline of 1.1 per cent in November 2008 against a growth rate 5.2 per cent a year ago.
Growth in power generation too was down to 2.6 per cent from 5.8 per cent in November 2007. While finished carbon steel registered a decline of 1.4 per cent compared to a growth rate of 4.8 per cent in the same period last year.
However, coal output grew by 9.6 per cent in November 2008 from 7.7 per cent, while cement production rose by 8.7 per cent from 5.2 per cent.
Crude oil production rose by merely 0.5 per cent in the period against 0.3 per cent in November 2007.
