Good news on the industrial production front, with output up 3.8 percent

Index of Industrial Production: Industrial production in the country has increased. According to data released by the government, industrial production has increased by 3.8 percent in December 2023. Industrial production rose 5.1 percent in the same month a year ago. The Index of Industrial Production (IIP) has reached 151.5 during this period. These figures, which are released every 6 weeks, indicate that industrial activity has increased in the country. Issued on the basis of IIP. The January 2024 index will be released on Tuesday, March 12.

Manufacturing, mining and power generation increased.

The official release of the National Statistics Office (NSO) showed that the output of the manufacturing sector grew by 3.9 percent in December 2023 as against 3.6 percent in the same period a year ago. Mining output will grow by a further 5.1% in December 2023. electricity Production has grown at a rate of 1.2 percent. Thus, the overall growth rate of IIP in the first nine months (April to December) of the current financial year has been 6.1 percent. In the same period a year ago, this number was 5.5 percent.

Data is collected from production units across the country.

This data is collected from factories and production units across the country. These are all quick guesses. They will be further modified as per IIP Amendment Policy. Classified on the basis of consumption, it was 1.5 percent in primary goods, 1.03 percent in capital goods, 1.59 percent in intermediate goods and 1.77 percent in infrastructure and construction equipment. The same figures were 1.14 percent in consumer durables and 1.78 percent in consumer non-durables.

There was also an increase in November.

The index of industrial production stood at 141 in the month of November. This is 2.4 percent higher than a year ago. Earlier in the month of October 2023, the IIP stood at 144.5, which was 11.7 percent higher than a year ago. Domestic factory output rose at the fastest rate in 16 months during October.

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