June IIP growth hits five-month high of 7 pc
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New Delhi, Aug 10 (PTI) Industrial output recorded a five-month high growth of 7 per cent in June as production of consumer durables and capital goods picked up pace ahead of festival season, showed government data.
Factory output growth, measured in terms of the Index of Industrial Production (IIP), was revised upwards for May at 3.9 per cent from the previous estimate of 3.2 per cent, according to data released by the Central Statistics Office (CSO) today.
Commenting on the data, CCI Director General Chandrajit Banerjee said that industrial output has bounced back sharply and it augurs well for a broad based recovery in industrial performance during the year.
"Even on a low base of last year, this could be the reflection of the positive investment trend, in sectors such as roads, railways and affordable housing," he said.
The CSO data also showed that 'manufacture of computer, electronic and optical products' has shown the highest positive growth of 44.1 per cent followed by 20.5 per cent in 'manufacture of motor vehicles, trailers and semi-trailers' and 15.6 per cent in 'manufacture of other transport equipment'.
On the other hand, the industry group 'other manufacturing' showed the highest decline of (-) 40.2 per cent followed by (-) 31.7 per cent in 'manufacture of tobacco products' and (-) 0.8 per cent in 'manufacture of textiles'.
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