Industrial production in November reached 11.7 per cent, touching a two-year high. Industrial growth has gathered pace as factory production rose by 11.7 pc in November 2009, fuelled by stimulus-backed demand for manufactured goods, particularly consumer goods. Industrial growth was just 2.5 percent in November 2008. Manufactured goods, which have around 80 percent weight in the Index of Industrial Production, which measures industrial growth, grew by 12.7 percent in November 2009 compared to 2.7 percent in the same month a year ago. Within this category, consumer durable goods production expanded by 37.3 percent in the month against just 0.3 percent a year ago.
Industrial output in the first quarter of 2009-10 stood at 3.8 percent and in the second quarter at 9.2 percent. With better-than-expected performance in November, industrial production in the first two months of the third quarter now expanded at more than 10 percent, as it grew by 10.3 percent in October. The continuous rise of industrial production gives enough hope that the recovery is on a firm footing and will fuel the debate whether stimulus provided by the government to spur the economy should be withdrawn now or not.
Industrial output in the first quarter of 2009-10 stood at 3.8 percent and in the second quarter at 9.2 percent. With better-than-expected performance in November, industrial production in the first two months of the third quarter now expanded at more than 10 percent, as it grew by 10.3 percent in October. The continuous rise of industrial production gives enough hope that the recovery is on a firm footing and will fuel the debate whether stimulus provided by the government to spur the economy should be withdrawn now or not.
0 comments:
Post a Comment