The country’s industrial output grew by 4.8% in July. It has seen a decline on an annual basis. This figure was 6.2 percent in July 2023. However, earlier in June, industrial production growth was 4.2%, that is, it showed good growth compared to the previous month. These figures have been released by the Union Ministry of Statistics and Program Implementation. IIP was 5.9% in May, 5% in April, IIP growth was 4.9% in March, 5.7% in February, IIP rate was 3.8% in January.
According to official data, the manufacturing sector’s production grew by 4.6 percent in July, while it had grown by 5.3 percent in the same month a year ago. The mining sector grew by 3.7 percent in July 2024, while electricity production registered an increase of 7.9 percent. In the first four months (April-July) of the current financial year, the country’s industrial production grew at the rate of 5.2 percent, while in the same period a year ago this figure was 5.1 percent.
During this period, the growth of the capital goods segment was 12 percent. Apart from this, consumer durables output declined to 8.2 percent on a month-on-month basis, while it was 8.6 percent in June. The growth component of goods related to infrastructure and construction fell to 4.9 percent in July 2024, while this figure was 11.4 percent during the same month of 2023.
Apart from this, the data showed that the production growth of primary goods declined to 5.9 percent in July 2024, while in the same period last year this figure was 7.6 percent.