The industrial production growth for the month of March 2013 has been revised upward to 3.5% from 2.4% reported earlier, while the growth for the month of January 2013 has also been scaled up to 2.5% from 2.4% reported earlier. With the upward revision in January and March 2013 data, the overall IIP growth for FY2013 stands revised upward to 1.1% from 1.0% earlier. Nevertheless, the industrial production growth in FY2013 stands lowest in two decade.
As per the used based classification, the output of capital goods rise 1.0%, while the output of basic goods grew 1.3% in April 2013. The output of intermediate goods moved up 2.4%, while the output of consumer goods rose 2.8% in April 2013. The increase in the output of consumer goods was driven by 12.3% growth in the production of consumer non-durables, but the output of consumer durable declined 8.3% in April 2013.
The industrial production growth for April 2013 grew below economists' expectations. As per the poll of economists conducted by Capital Market, IIP growth was expected to be 2.4% in April 2013. The economists responding to the poll had forecasted the IIP growth in the range of 2.0% to 4.0% for April 2013. The median of various IIP growth forecasts received from economists stood at 2.4%, while the average was higher at 2.7% for April 2013.
In terms of industries, thirteen (13) out of the twenty two (22) industry groups in the manufacturing sector have shown positive growth during the month of April 2013 as compared to the corresponding month of the previous year. The industry group 'Wearing apparel; dressing and dyeing of fur' has shown the highest positive growth of 86.6%, followed by 25.4% in 'Electrical machinery and apparatus n.e.c.' and 19.9% in 'Furniture; manufacturing n.e.c.'. On the other hand, the industry group 'Office, accounting & computing machinery' has shown a negative growth of 38.9% followed by 28.1% in 'Radio, TV and communication equipment & apparatus' and 12.0% in 'Medical, precision & optical instruments, watches & clocks'.
Some of the important items showing high positive growth during the current month over the same month in previous year include 'Woollen Carpets' (172.3%), 'Apparels' (96.4%), 'Naphtha' (25.1%), 'Vitamins' (136.6%), 'PVC Pipes and Tubes' (36.9%), 'Conductor, Aluminium' (47.8%) 'Cable, Rubber Insulated' (98.3%), 'Three-wheelers (including passenger and goods carrier' (21.4%), 'Gems and Jewellery' (24.5%) and 'Pens of all kind' (36.8%).
Some of the other important items showing high negative growth are: 'Cigarettes' [(-) 37.8%], 'Terry Towel' [(-) 21.8%], 'Di Ammonium Phosphate (DAP)' [(-) 44.7%], 'Grinding Wheels' [(-) 29.6%], 'Copper and Copper Products' [(-) 47.0%], 'Boilers' [(-) 47.3%], 'Heat Exchangers' [(-) 47.9%], 'Earth Moving Machinery' [(-) 32.8%], 'Sugar Machinery' [(-) 79.2%], 'Plastic Machinery Incl. Moulding Machinery' [(-) 39.4%], 'Computers' [(-) 41.7%] and 'Telephone Instruments including Mobile Phones & Accessories' [(-) 30.9%].
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