Industrial production grows 5.2 pc in May, higher than April'23

New Delhi: India's industrial production rose to 5.2 percent in May from 4.5 percent in April 2023, mainly due to good performance by the manufacturing and mining sectors, according to the official data released on Wednesday.

The factory output growth measured in terms of the Index of Industrial Production (IIP) stood at 19.7 percent in May 2022, mainly due to a lower base effect.

"The growth rates over the corresponding period of previous year are to be interpreted, considering the unusual circumstances on account of COVID 19 pandemic since March 2020," an official statement explained.

As per the IIP data released by the National Statistical Office (NSO), the manufacturing sector's output grew 5.7 percent in May 2023 against a 20.7 percent expansion a year ago.

Power generation rose 0.9 percent in May 2023 compared to a growth of 23.5 percent a year ago.

Mining output rose by 6.4 percent during the month under review against an 11.2 percent expansion in the year-ago period.

As per use-based classification, the capital goods segment grew 8.2 percent in May this year compared to 53.3 percent a year ago.

Consumer durables output during the month rose 1.1 percent against a 59.1 percent growth in the year-ago period.

Consumer non-durable goods output increased by 7.6 percent compared to a growth of 1.4 percent a year earlier.

Infrastructure/construction goods posted a growth of 14 percent over an 18.4 percent expansion in the same period a year ago.

The data also showed that the output of primary goods logged 3.5 percent growth in the month against 17.8 percent in the year-ago period.

The intermediate goods output in May rose 1.6 percent compared to a 17.5 percent growth during the corresponding month last year.

During the April-May period of fiscal 2023-24, the growth in IIP works out to be 4.8 percent, down from 12.9 percent in the corresponding period a year ago.