Notes Ban Effect: IIP For December For December Declines By 0.4%

Notes Ban Effect: IIP For December For December Declines By 0.4%
Factory output for the month of December declined by 0.4 Per cent as compared to a rise of 5.7 per cent in November 2016. The output as tracked through the index for industrial production or IIP declined due to contraction in consumer and capital goods production.

Economists surveyed by Reuters had forecast a 1.1 percent growth in output compared with a 5.7 percent year-on-year growth in November.

The manufacturing sector indices reported a negative growth of -2 per cent while mining reported a rise of 5.2 per cent and electricity generation rose by  6.3 per cent.  In terms of industries,  seventeen  out of the  twenty two industry groups in the manufacturing sector have shown negative growth  during the month of December 2016.

Items like commercial vehicles gems and jewellery motorcycles, cement and rice reported a high negative growth in the month under consideration.