Industrial production grows 11.5% in July
IIP growth: Power generation rose 11.3%, and mining output also increased by 19.5% in July. In July 2020, the IIP had contracted 10.5%.
The government released Index of Industrial Production (IIP) data on Friday, stating that industrial production has increased by 11.5% in July. The National Statistical Office (NSO) released data on the Index of Industrial Production (IIP) indicating that the manufacturing sector’s output increased by 10.5% in July 2021. The power generation rose 11.3%, and mining output also increased by 19.5% in July. In July 2020, the IIP had contracted 10.5%.
The IIP also rose 34.1% during April-July, 2021.
In April-July 2020, it showed a contraction of 29.3%. Since the outbreak of Covid-19 in March 2020, industrial production has contracted 18.7%.
In April 2020, it plunged 57.3% due to pandemic-led disruption on the economic activities and lockdown.
“The growth rates over corresponding period of previous year are to be interpreted considering the unusual circumstances on account of COVID-19 pandemic since March 2020,” NSO said in a statement.
The output of capital goods grew 29.5% in July 2021. It had witnessed a contraction of 22.8% in the year-ago period.
Consumer durables manufacturing increased 20.2% from a decline of 23.7% in July 2020. Consumer non-durable goods production fell 1.8% in July whereas it had grown 1.8% in the year-ago period.