Industrial output growth slows to 6-mth low in Feb

Consumer non-durables contracted for 3rd straight month

- ASIT RANJAN MISHRA

Growth in industrial production slowed to a six-month low at 2.9 per cent in February this year as a high base and lacklustre demand pulled it down.

In February 2024, the index of industrial production (IIP) grew 5.6 per cent aided by the leap year, while in January this year it grew at 5.2 per cent.

Data released by the statistics ministry showed slowdown in output growth in mining (1.6 per cent) and manufacturing (2.9 per cent), while electricity generation (3.6 per cent) grew at a relatively quicker pace in February this year.

According to the use-based classification, capital goods (8.3 per cent) and infrastructure goods (6.6 per cent) grew at a robust rate, while growth in primary goods (2.8 per cent) and intermediate goods (1.5 per cent) decelerated. Output of consumer durable goods rose by 3.8 per cent in February, while growth in output of consumer non-durables (-2.1 per cent) continued to stay in the negative territory for the third successive month.