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Industrial Production In November Slowest In 17 Months

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According to the data by Central Statistics Office (CSO), the Index of Industrial Production (IIP) or generally called as factory output for the month of November 2018 stood at 126.4, which is a mere 0.5% higher as compared to the level in the month of November 2017.

The data released by the CSO under the Ministry of Statistics and Programme Implementation showcases a slowdown in the industrial output as the growth rate crashed to its lowest in 17 months. The Index of Industrial Production (IIP) during the month of November 2017 rose by 8.5 per cent.

The data released by the Central Statistics Office is the last set of key economic input which is presented before the interim budget on 1 February. As per the data, Manufacturing output declined by 0.4 per cent as compared to the 7.9 per cent growth in the previous month. Mining output grew by 2.7 per cent year-on-year in November compared to 7 per cent in October.

The industry group ‘Manufacture of fabricated metal products, except machinery and equipment’ showed the highest negative growth of (-)13.4 per cent followed by (-)9.6 per cent in ‘Manufacture of electrical equipment’ and (-)7.3 per cent in ‘Other manufacturing’.

The cumulative growth for the period April-November 2018 over the corresponding period of the previous year stands at 5.0 per cent.

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