Industrial growth recovers to 2.4% in Nov

Industrial growth recovers to 2.4% in Nov
PTI
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First Published: Mon, Jan 12 2009. 01 33 PM IST
Updated: Mon, Jan 12 2009. 01 33 PM IST
New Delhi: After contracting for the first time in 15 years in the previous month, industrial production recovered to grow by 2.4% in November 2008, even though lagging behind the 4.9% 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% against 9.2% in the corresponding period of 2007-08.
Meanwhile, the industrial growth figure for October 2008 was revised up to -0.3% from -0.4%.
Manufacturing, accounting for around 80% of the index, grew by 2.4% in November against 4.7%, while electricity generation rose by 3.1% against 5.8% and mining output was up by 0.5% from 6.3%.
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.
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First Published: Mon, Jan 12 2009. 01 33 PM IST