Central Statistics Office Current Affairs - 2020

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Industrial production, measured in terms of IIP grows 4.5% in September 2018

According to data released by Central Statistics Office (CSO), factory output measured in terms of Index of Industrial Production (IIP) grew 4.5% in September 2018. It was slowest pace in four months mainly due to poor performance of mining sector and lower offtake of capital goods.

Key Facts

Sector wise Performance: Mining sector output growth decelerated to 0.2% in September 2018 as against 7.6% in September 2017. Capital goods output growth slowed to 5.8% in the month under review from 8.7% year ago. The manufacturing sector recorded a growth of 4.6% in September 2018 up from 3.8% year ago.

Use-based Performance: The growth rates in September 2018 over September 2017 are 2.6% in primary goods, 1.4% in intermediate goods and 9.5% in infrastructure/construction goods. Consumer durables and consumer non-durables have recorded growth of 5.2% and 6.1%, respectively.

Index of Industrial Production (IIP)

IIP is composite indicator that measures short-term changes in volume of production of basket of industrial products during given period with respect to chosen base period. It is compiled and published monthly by Central Statistical Organization (CSO), Ministry of Statistics and Programme Implementation (MoSPI). Its base year is 2011-12.

It comprises 407 individual items. Sector wise, items included falls into 3 categories viz. Manufacturing (405 items), Mining (1 items) & Electricity (1 item). The weights of three sectors are 77.63%, 14.37%, 7.9% respectively. The combined weightage of eight core Industries in IIP is 40.27%.

In use wise composition 407 individual items are divided into basic goods, capital goods, intermediate goods and consumer goods. Further, consumer goods is divided into consumer durables and consumer non-durables. In this case maximum weight is of basic goods, followed by Consumer Goods, followed by Intermediate and Capital Goods.

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IIP records 6.6% growth in July 2018

According to data released by Central Statistics Office (CSO), factory output measured in terms of the Index of Industrial Production grew at 6.6% in July 2018. This growth was on the back of good performance by manufacturing sector and higher offtake of capital goods and consumer durables. Besides, IIP growth for June 2018 was also revised downwards to 6.8% from the provisional estimate of 7% released in August 2018. The IIP growth in April-July 2018 period was 5.4% compared to 1.7% year ago.

July 2018 IIP

Manufacturing sector (Weightage: 77.6): It recorded 7% growth.

Electricity sector (Weightage: 7.9%): It recorded 6.7% growth.

Mining (Weightage: 14.3%): It recorded 3.7% growth.

Consumer durables sector: It recorded impressive growth of 14.4% as against dip of 2.4% in July 2017.

Capital goods production: It grew by 3% as against decline of 1.1% in July 2017.

Index of Industrial Production (IIP)

IIP is composite indicator that measures short-term changes in volume of production of basket of industrial products during given period with respect to chosen base period. It is compiled and published monthly by Central Statistical Organization (CSO), Ministry of Statistics and Programme Implementation (MoSPI).

Base year: The CSO had revised the base year of the IIP from 2004-05 to 2011-12 in May 2017 to capture structural changes in economy and improves quality and representativeness of indices. The revised IIP (2011-12) reflects changes in industrial sector and also aligns it with base year of other macroeconomic indicators like Wholesale Price Index (WPI) and Gross Domestic Product (GDP).

Sector wise items and weightages: IIP covers 407 item groups. Sector wise, the items included falls into 3 categories viz. Manufacturing (405 items), Mining (1 items) & Electricity (1 item). The weights of the three sectors are 77.63%, 14.37%, 7.9% respectively. The combined weightage of eight core Industries in IIP is 40.27%.

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