Factory output, as measured in terms of the Index of Industrial Production (IIP), contracts by 0.3% in December

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  Factory output, as measured in terms of the Index of Industrial Production (IIP), contracts by 0.3% in December

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1. The index of industrial production (IIP) fell from a growth rate of 1.8 per cent, as the manufacturing sector slipped into negative territory again.
2. Manufacturing sector : Declined by 1.2% in December 2019 as compared to a growth of 2.9% in December 2018. Declined as compared to November 2019, where it saw growth of 2.7 %.
3. Power generation: Electricity generation also registered a decline of 0.1 % in December 2019 as compared to December 2018. In the same month a year ago, power generation saw a growth of 4.5 %.
4. Mining output:  The mining output has seen a slight improvement over the previous month. In November 2019, this sector saw growth of 1.7%. It has increased to 5.4 % in December 2019.
5. Use-based classification: Capital goods production fell by 8.6%, primary goods growth declined marginally by 0.3%, intermediate goods growth increased by 17.1%, consumer durables growth declined 1.5%, consumer non-durables growth increased 2%. This will impact industrial production in the coming months.
6. The inflation rate in vegetables came down from 60 per cent in December, but it still stood at 50 per cent in January.
7. Pulses saw the inflation rate rising to 16.71 per cent in January, from 15.44 per cent in December. In its monetary policy statement, the RBI had pointed to rising pressure on inflation rate of pulses.
8. The core inflation, which is non-food and non-fuel one, rose to 4.1 per cent in January from 3.7% in December.
9. About IIP: It is an abstract number represents the status of production in the industrial sector for a given period of time as compared to a reference period of time. The current base year is 2011-2012.

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