Industry grows by 11.50% in May

Industrial output rose by 11.5 per cent in May, growing in double digits for the eighth straight month, on good showing by manufacturing, particularly capital and consumer goods.

In comparison, industry grew by 2.1 per cent in May last year.

The manufacturing segment, which constitutes around 80 per cent of the index of industrial production (IIP), grew 12.3 per cent in May against 1.8 per cent in same month last year, according to the official data released today.

Within manufacturing, capital goods production rose by 34.3 per cent in May against a negative growth rate of 3.6 per cent a year ago.

Consumer durables output rose by 23.7 per cent during the month under review against 13.2 per cent in the same period last year.

The other two sectors, mining and electricity, expanded by 8.7 per cent and 6.4 per cent in May, respectively against a growth rate of 3.4 per cent and 3 per cent in the same period last year.

According to the data, of the 17 industries, as many as 15 showed positive growth in May.

The industrial output for April was revised downwards to 16.52 per cent from provisional figures of 17.6 per cent earlier.

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