IIP: Industrial Output Rises 1.9% In March

India’s factory output picked up pace in March.

The Index of Industrial Production rose 1.85% in March compared to a revised estimate of 1.5% in February, the data published by the Ministry of Statistics and Programme Implementation on Thursday showed.

31 economists polled by Bloomberg had forecast March IIP growth at 1.3%.

Month-on-month, the index rose 12.5%.

Sectoral Estimates

On a year-on-year basis:

• Mining output rose 4%.

• Manufacturing output rose 0.9%.

• Electricity generation rose 6.1%.

Industrial output, as classified by the end-use of goods, showed a decline in consumer durables and non-durables compared with a year earlier.

• Primary goods output rose 5.7%.

• Capital goods output rose 0.7%.

• Intermediate goods output rose 0.6%.

• Infrastructure and construction goods output rose 7.3%.

• Consumer durables output fell 3.2%.

• Consumer non-durables output fell 5%.

Sequentially, output showed a strong pickup across all categories.

Manufacturing output was up 10.8% month-on-month with the index hitting its highest levels of the fiscal. Electricity output rose 18.8% in March compared to the previous month. Mining activity was stronger, too.

As classified by end-use of goods, too, most categories saw an uptick in output between February and March. Consumer durables output was higher by 12.9% and non-durables production rose 7.4%. Capital goods output was up 15.5% month-on-month.