April IIP at 11-yr high of 13.6%

 Industrial production in April bucked the traditional lean-month trend and hit an 11-year high on the back of a strong upsurge in manufacturing.

 The index of industrial production (IIP) grew 13.6 per cent in April, against 9.9 per cent in the same month a year ago.  This is only the second time since 1996 that the index has grown in double digits in April.  The full-year growth rate in 2006-07 also hit an 11-year high of 11.5 per cent, against 8.2 per cent in 2005-06, according to data released by the Central Statistical Organisation, principally on account of an upward revision for March to 14.52 per cent from 12.9 per cent.  Growth in industrial production in April 2007 has been largely fuelled by manufacturing, which grew consistently in double digits in 2006-07 (except October). Year-on-year growth in manufacturing in April was 15.1 per cent, over 11 per cent in the previous year.  Manufacturing grew despite a slowdown in consumer durables (5.3 per cent against 7.4 per cent in the year-ago period) and capital goods (17.7 per cent against 19.6 per cent).  Growth was largely fuelled by 55 per cent growth in food products, a 92.2 per cent spike in wood and wood products and healthy 21 per cent growth in consumer non-durables.  Siddhartha Roy, economic adviser to the Tata group, said the dip in growth in certain sectors could be attributed to the hike in interest rates.