Shri Srikant Kumar Jena, Minister of State (Independent charge), Ministry of Statistics & Programme Implementation announced the release of the monthly Quick Estimates of Index of Industrial Production (IIP) for the month of June 2013 compiled by the Central Statistics Office. The index is a composite indicator that measures the short term changes in the volume of industrial production. According to the index, the industrial growth for the month of June 2013 over the corresponding month of the previous year is (-) 2.2%. The three sectors that constitute the index are Mining, Manufacturing and Electricity. The monthly growth rates of these three sectors for the month are (-) 4.1%, (-) 2.2% and 0.0% respectively. The Minister further added that as per “use-based” classification there has been negative growth in basic goods [(-) 1.9%], capital goods [(-) 6.6%] and consumer durables [(-) 10.5%] whereas positive growth has been registered in intermediate goods (1.1%) and consumer non-durables (5.0%).

Index of Industrial Production shows year on year contraction driven by mining and manufacturing; mixed use based trends emerge. The Quick Estimates of the Index of Industrial Production for June 2013 show a year on year contraction of industrial output, with declines in mining and manufacturing and no growth in electricity; use based breakdown shows negative growth in basic goods, capital goods and consumer durables, while intermediate goods and consumer non durables grew.