CSO released Quick Estimates of Index for Industrial Production for November 2014

Central Statistics Office (CSO) under the Union Ministry of Statistics and Programme Implementation on 12 January 2015 released the Quick Estimates of Index of Industrial Production (IIP) for the month of November with base year 2004-05.

Main Highlights
• The IIP for November 2014 stood at 169.8, which is 3.8 percent higher than the level measured in November 2013.
• The cumulative growth for period April-November 2014 was 2.2 percent higher compared to the period April – November 2013
• The Indices of Industrial Production for the Mining, Manufacturing and Electricity sectors for November 2014 stood at 127.9, 177.0 and 174.3 respectively
• IIP growth rates for Mining, Manufacturing and Electricity sectors were 3.4 percent, 3.0 percent and 10.0 percent as compared to November 2013.
• The cumulative growth in these three sectors during the period April-November 2014 over the corresponding period April-November 2013 has been 2.5 percent, 1.1 percent and 10.7 percent respectively
• In terms of industries, sixteen (16) out of the twenty two (22) industry groups (as per 2-digit NIC-2004) in the manufacturing sector have shown positive growth during the month of November 2014 as compared to the corresponding month of the previous year
• As per Use-based classification, the growth rates in November 2014 over November 2013 were 7.0 percent in Basic goods, 6.5 percent in Capital goods and 4.3 percent in Intermediate goods.
• The Consumer durables and Consumer non-durables recorded growth of (-) 14.5 percent and 6.0 percent respectively, with the overall growth in Consumer goods being (-) 2.2 percent.
• Some important items that displayed high positive growth during November 2014 over the November 2013 include Conductor, Aluminium (115.0 percent), Air Conditioner (Room) (53.8 percent), Sugar (49.5 percent) and Three Wheelers (Including passenger & goods carrier) (42.5 percent) among others
• Some important items showing high negative growth are Telephone Instruments (incl. Mobile Phones & Accessories) (-) 67.3 percent, Ship Building & Repairs (-) 41.1 percent, Wood Furniture (-) 41.1 percent, Sugar Machinery (-) 40.9 percent among others.

Index of Industrial Production (IIP)
IIP is a composite indicator that measures the short-term changes in the volume of production of a basket of industrial products during a given period with respect to that in a chosen base period.

The current IIP is published by CSO with 2004-05 as base period.

The weightage of Manufacturing, Mining and Electricity production in overall Index IIP is 75.53 percent, 14.16 percent and 10.31 percent respectively.

Index of Industrial Production (IIP) is compiled by using data received from 16 source agencies.