India’s industrial output falls 2.3 percent in March (Lead)

May 12th, 2009 - 3:08 pm ICT by IANS  

New Delhi, May 12 (IANS) India’s industrial output fell for the third consecutive month in March by a steep 2.3 percent compared to the corresponding month last year, according to government data released Tuesday. This was the third fall in four months.
Production in the manufacturing sector declined 3.3 percent during the month under review from the year-ago period, showed data released by the Central Statistical Organisation (CSO) under the statistics and programme implementation ministry.

The CSO data, however, showed the cumulative growth in industrial production between April 2008 and March 2009 was 2.4 percent more than the corresponding period the previous year.

During this period, the mining, manufacturing and electricity sectors showed improved performance, their production rising 2.3 percent, 2.3 percent and 2.8 percent respectively over the corresponding period of 2007-08.

CSO said five out of the 17 industry groups have shown positive growth during March 2009, with tobacco, beverages and related products registering the highest growth of 15.1 percent.

Chemical products except petroleum products and coal followed with 8.3 percent growth, with transport equipment and components coming next with 7 percent growth.

On the other hand, food products industry fell 35.8 percent followed by wood and wood products at 25.1 percent, and “other manufacturing industries” at 19.7 percent.

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