The Index of Industrial Production (IIP) registered a growth rate of 3.2 percent in December 2024, compared to 5.2 percent (Quick Estimate) in November 2024.
For December 2024, the sectoral growth rates were as follows: Mining at 2.6 percent, Manufacturing at 3.0 percent, and Electricity at 6.2 percent. The Quick Estimate of the overall IIP stood at 157.2, higher than the 152.3 recorded in December 2023. Specifically, the sectoral indices were 143.1 for Mining, 156.2 for Manufacturing, and 192.8 for Electricity during December 2024.
Within the Manufacturing sector, 16 out of 23 industry groups (as per NIC 2-digit level) recorded positive growth in December 2024 compared to December 2023. The top three contributors to this growth were Basic Metals (6.7 percent), Electrical Equipment (40.1 percent), and Coke and Refined Petroleum Products (3.9 percent).
Based on use-based classification, the indices for December 2024 were: Primary Goods at 157.7, Capital Goods at 114.5, Intermediate Goods at 169.3, and Infrastructure/Construction Goods at 191.7. Consumer Durables and Consumer Non-Durables were recorded at 124.0 and 166.0, respectively.
The growth rates of IIP in December 2024 compared to December 2023 (based on use-based classification) were: 3.8 percent in Primary Goods, 10.3 percent in Capital Goods, 5.9 percent in Intermediate Goods, 6.3 percent in Infrastructure/Construction Goods, and 8.3 percent in Consumer Durables, while Consumer Non-Durables saw a decline of 7.6 percent. Among use-based categories, the leading contributors to IIP growth in December 2024 were Primary Goods, Intermediate Goods, and Infrastructure/Construction Goods.
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