September 12, 2011 12:09 PM

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Industrial growth falls to 3.3%

The Industrial growth in July this year fell to 3.3 percent compared to 9.9 percent in the corresponding month last year. According to the data released by the Ministry of Statistics and Programme Implementation, the marginal growth was mainly on account of poor performance in capital goods, manufacturing and mining sectors. The Index of Industrial production, IIP, during the April to July period of this fiscal grew by 5.8 per cent, as against 9.7 per cent in the corresponding four-month period last year. According to an official release, production of capital goods declined by 15.2 per cent in July, while the manufacturing sector, which constitutes over 75 per cent of the index, grew by only 2.3 per cent. Consumer durables grew by 8.6 per cent this July as against 14.8 per cent in the corresponding month of last year. In terms of industries, fifteen out of the twenty two industry groups in the manufacturing sector have shown positive growth during the month of July this fiscal as compared to the corresponding month of the previous year.

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