A sharp slowdown in electricity and mining sectors lowered the overall growth in industrial production to 6.7 per cent during July 2005 as against 8.5 per cent in the same month last fiscal.
On a cumulative basis, however, the Index of Industrial Production for the first four months this fiscal grew by a higher 9.3 per cent as compared to 7.9 per cent in April-July 2004, according to the official figures released on Monday.
Electricity sector growth plummeted to a negative 1.2 per cent during the month from an impressive 13.7 per cent in July 2004. Mining sector also posted a negative 0.4 per cent growth in July 2005 as against 4.2 per cent in the same month a year ago.
Growth in manufacturing, which has the highest weight in the IIP basket, too remained flat at 8.3 per cent in July as against 8.4 per cent in July 2004.
The slowdown comes after strong double-digit growth in May and June when industrial production rose 10.8 per cent and 11.7 per cent respectively.
During April-July this year, manufacturing sector grew by 10.4 per cent as compared to 8.2 per cent during the same period in 2004-05. The growth in electricity sector was slower at 5.3 per cent in April-July this year against 7.9 per cent in the year-ago period. The growth in the mining sector also dipped to 3.1 per cent during April-July 2005 compared to 5.3 per cent during the year-ago period.
As many as 13 of the 17 industry groups monitored under the IIP have shown positive growth during July this year.
Beverages, tobacco and related products recorded the highest growth of 26.7 per cent, followed by 24 per cent in other manufacturing industries and 21.4 per cent in textiles.
As per use-based classification, basic goods grew by 3.9 per cent in July against a 5.7 per cent in the previous year month, while it was 6.7 per cent in April-July this year as compared to 4.9 per cent in the same period in 2004-05.
Capital goods geared up to 13.9 per cent growth compared to 11.6 per cent a year ago. In the first four months this fiscal, the sector registered a growth of 13.6 per cent as against 12.9 per cent a year-ago.
In the case of intermediate goods, the growth slipped to a meagre 2.9 per cent in July against 6.4 per cent in July last year. During April-July this year, the growth was 2.9 per cent as compared to 9.7 per cent a year ago.
Growth in consumer goods stood at 11 per cent in July as against 12.7 per cent in July 2004. During April-July 2005-06, growth in consumer goods more than doubled to 16.9 per cent from 7.9 per cent in the year-ago period.
Consumer durables and non-durables grew by 5.2 per cent and 13.1 per cent in July 2005 as against 20.1 per cent and 10.2 per cent respectively in July 2004.
In the first four months of this fiscal, the sectors grew by 13.9 and 18 per cent as compared to 14.3 per cent and 6 per cent respectively in April-July 2004-05.
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