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'description' => '<p style="margin-right:0in"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><strong>Issue</strong></span></span></p>
<p style="margin-right:0in"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Having contracted for three months in a row, the Index of Industrial Production (IIP) recorded a growth of 1.8% in November mainly on account of improvement in the manufacturing sector.</span></span></p>
<p style="margin-right:0in"> </p>
<p style="margin-right:0in"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><strong>Background</strong></span></span></p>
<p style="margin-right:0in"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">According to the National Statistical Office (NSO) data, the growth in the manufacturing sector was 2.7% as against a contraction of 0.7% in the same month last year.</span></span></p>
<p style="margin-right:0in"> </p>
<p style="margin-right:0in"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><strong>Details</strong></span></span></p>
<ul>
<li>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Electricity generation turned negative (-) 5% as against a growth of 5.1% in November 2018.</span></span></p>
</li>
<li>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Mining sector output decelerated to 1.7% from 2.7% in the year ago month.</span></span></p>
</li>
<li>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The IIP growth during April-November period of the current fiscal came in at 0.6%, down from 5% in the same period of 2018-19.</span></span></p>
</li>
<li>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The data for the November month further revealed that production of capital goods, a barometer of investment, contracted by 8.6%. This compares with a contraction of 4.1% in November 2018.</span></span></p>
</li>
<li>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">There was a contraction of 3.5% in the infrastructure and construction goods segment.</span></span></p>
</li>
<li>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">As per the NSO data, 13 out of the 23 industry groups in the manufacturing sector showed positive growth during November 2019 as compared to the corresponding month of the previous year.</span></span></p>
</li>
<li>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The industry group manufacture of wood and products of wood and cork, except furniture, manufacture of articles of straw and plaiting materials has shown the highest positive growth of 23.2 per cent followed by 12.9 per cent in manufacture of basic metals.</span></span></p>
</li>
<li>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The industry group ‘other manufacturing’ has shown the highest negative growth of (-) 13.5% followed by (-) 12.6% in ‘manufacture of motor vehicles, trailers and semi-trailers’.</span></span></p>
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<p style="margin-right:0in"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><strong>IIP</strong></span></span></p>
<ul>
<li>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The Index of Industrial Production (IIP) is an index for India which details out the growth of various sectors in an economy such as mineral mining, electricity and manufacturing. </span></span></p>
</li>
<li>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The all India IIP is a composite indicator that measures the short-term changes in the volume of production of a basket of industrial products during a given period with respect to that in a chosen base period. </span></span></p>
</li>
<li>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">It is compiled and published monthly by the Central Statistics Office (CSO), Ministry of Statistics and Programme Implementation six weeks after the reference month ends.</span></span></p>
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'title' => 'IIP growth turns positive',
'description' => '<p style="margin-right:0in"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><strong>Issue</strong></span></span></p>
<p style="margin-right:0in"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Having contracted for three months in a row, the Index of Industrial Production (IIP) recorded a growth of 1.8% in November mainly on account of improvement in the manufacturing sector.</span></span></p>
<p style="margin-right:0in"> </p>
<p style="margin-right:0in"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><strong>Background</strong></span></span></p>
<p style="margin-right:0in"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">According to the National Statistical Office (NSO) data, the growth in the manufacturing sector was 2.7% as against a contraction of 0.7% in the same month last year.</span></span></p>
<p style="margin-right:0in"> </p>
<p style="margin-right:0in"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><strong>Details</strong></span></span></p>
<ul>
<li>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Electricity generation turned negative (-) 5% as against a growth of 5.1% in November 2018.</span></span></p>
</li>
<li>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Mining sector output decelerated to 1.7% from 2.7% in the year ago month.</span></span></p>
</li>
<li>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The IIP growth during April-November period of the current fiscal came in at 0.6%, down from 5% in the same period of 2018-19.</span></span></p>
</li>
<li>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The data for the November month further revealed that production of capital goods, a barometer of investment, contracted by 8.6%. This compares with a contraction of 4.1% in November 2018.</span></span></p>
</li>
<li>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">There was a contraction of 3.5% in the infrastructure and construction goods segment.</span></span></p>
</li>
<li>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">As per the NSO data, 13 out of the 23 industry groups in the manufacturing sector showed positive growth during November 2019 as compared to the corresponding month of the previous year.</span></span></p>
</li>
<li>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The industry group manufacture of wood and products of wood and cork, except furniture, manufacture of articles of straw and plaiting materials has shown the highest positive growth of 23.2 per cent followed by 12.9 per cent in manufacture of basic metals.</span></span></p>
</li>
<li>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The industry group ‘other manufacturing’ has shown the highest negative growth of (-) 13.5% followed by (-) 12.6% in ‘manufacture of motor vehicles, trailers and semi-trailers’.</span></span></p>
</li>
</ul>
<p style="margin-right:0in"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><strong>IIP</strong></span></span></p>
<ul>
<li>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The Index of Industrial Production (IIP) is an index for India which details out the growth of various sectors in an economy such as mineral mining, electricity and manufacturing. </span></span></p>
</li>
<li>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The all India IIP is a composite indicator that measures the short-term changes in the volume of production of a basket of industrial products during a given period with respect to that in a chosen base period. </span></span></p>
</li>
<li>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">It is compiled and published monthly by the Central Statistics Office (CSO), Ministry of Statistics and Programme Implementation six weeks after the reference month ends.</span></span></p>
</li>
</ul>
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