june industry performance: India’s industrial production eases to 4.2% in June from 6.2% in May

The Index of Industrial Production (IIP) in India rose 4.2 per cent in June on an annual basis as against 6.2 per cent in May, revealed the data provided by the Ministry of Statistics and Programme Implementation (MoSPI) on Monday.

The factory output growth measured in terms of the Index of Industrial Production (IIP) had grown by 4.0 per cent in June 2023, the government said in a press release.

The previous high of IIP was recorded at 11.9 per cent in October 2023, which slowed to 2.5 per cent in November, 4.2 per cent in December and 4.1 per cent in January 2024.

The Mining, Manufacturing and Electricity grew by 10.3, 2.6, and 8.6 per cent respectively.

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According to use-based classification, the capital goods segment witnessed a growth of 2.4 per cent in June, but it expanded by 2.9 per cent in the same month last year.While the output of consumer durables surged by 8.6 per cent during June, the output of non-durable consumer goods contracted by 1.4 per cent from 2.5 per cent in May.Goods related to infrastructure and construction saw a marginal growth of 4.4 per cent in June 2024, against a 13.3 per cent expansion YoY.

The data also revealed that, in comparison to the same period last year, the output of primary goods increased by 6.3 per cent in June 2024 as against 5.3 per cent.

“Based on use-based classification, top three positive contributors to the growth of IIP for the month of June 2024 are – Primary goods, Consumer durables and Infrastructure/Construction goods,” the government said.