Furniture output contracted by 22.8%, a 69-month low, in Mar 20201 min read . Updated: 13 May 2020, 02:33 PM IST
Among the 23 industries tracked by the Central Statistics Office's Index of Industrial Production, the furniture industry had the thirteenth lowest growth rate.
Factory output in the furniture industry contracted 22.8% in Mar 2020 compared to the same month last year, according to new data released by the Central Statistics Office. In comparison, it had expanded at 3.3% in the previous month of Feb 2020.
Growth in the furniture industry was less than that in overall industrial output, which shrunk 16.7%. Furniture made up 0.13% of the overall index of industrial production (IIP), and contributed -0.03% to overall IIP growth.
Among the 23 industries tracked by the Central Statistics Office's Index of Industrial Production, the furniture industry had the thirteenth lowest growth rate. Across all industry sectors, the growth rate was highest in manufacture of coke and refined petroleum products, and lowest in manufacture of motor vehicles, trailers and semi-trailers.
Factory output is measured by the Index of Industrial Production (IIP), a composite index that measures changes in the volume of production of selected industrial goods.