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Manufacturing slides into recession inApril-November
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11012014 | 0 |
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Navigation brvbargt Home raquo Business raquo Manufacturing slides into recession in April-November
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Official data on industrial output growth released on Friday confirmed that the Indian economy is in a
ldquomanufacturing sector recessionrdquo for the first time in recent years The development comes barely a
week after Prime Minister Manmohan Singh said at a press conference that ldquoIndiarsquos economic growth
momentum will reviverdquo
Manufacturing output during the first eight months of the current fiscal (2013-14) contracted 06 per
cent according to the data released The rate of contraction of manufacturing deepened from 08 per
cent in October to 35 per cent in November The decline was significant in motor vehicles (76 per
cent) machinery and equipment (83 per cent) fabricated metal products (75 per cent) and medical
instruments (7 per cent)
ldquoWith factory production growth in the first-eight months of the fiscal negative and no signs of a pick-
up in rural or festive demand India can now officially said to be in a manufacturing recessionrdquo said
Madan Sabnavis Chief Economist at Care Ratings ldquoFor the year to end with even one per cent
positive growth the growth in the last four months will have to increase by an average of 32 per
centrdquo An economy is said to be in recession if it shows negative growth for two consecutive quarters
or six months
Mining sector output contracted 22 per cent in April-November 2013 according to data released by
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11314 Manufacturing slides into recession in April-November - IndiaVision Latest Breaking News and Information about India | IndiaVision Latest Breaking News ahellip
wwwindiavisioncombusinessmanufacturing-slides-recession-april-november472525 23
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the Central Statistics Office (CSO) The overall index of industrial production (IIP) shrunk 02 per cent
during April-November 2013 The rate of contraction for overall industrial output in November was 21
per cent
Further even exports lost momentum in December as per trade data also released on Friday Year-
on-year export growth slowed from 59 per cent in November to 35 per cent according to official data
released here by the Commerce Ministry
Ten of the 22 manufacturing groups showed negative growth in November Consumer durables
recorded a negative growth of 215 per cent over November 2012
Radio TV and communication apparatus showed the sharpest negative growth of 422 per cent
followed by office accounting and computing machinery (275 per cent) and furniture manufacturing
(195 per cent)
ldquoThe IIP is flat due to the complete stoppage in sugar production though sugar has a low weight in itrdquo
said Saumitra Chadhuri member of Prime Ministerrsquos Economic Advisory Council
PTI reports
Power generation segment posted a growth of 63 per cent in the month under review compared to
24 per cent growth in the same month of 2012
Expansion in power generation was 54 per cent in April-November as compared to 44 per cent in the
same period in 2012
Capital goods production a barometer of demand showed a growth of 03 per cent in November
2013 compared to a contraction of 85 per cent in the same month a year ago
Click here to submit your review
Related News
Related posts
1 Indiarsquos manufacturing Purchasing Managers Index (PMI) expands in November
2 Inflation rises to 752 per cent in November
3 Retail inflation jumps to 9-month high in November
4 Indiarsquos trade deficit up $921 bn in November
Filed in Business
Leave a Reply
Your email address will not be published Required fields are marked
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One Trade Once A WeekThis year wersquove seen gains of 72 42
and 60 in less than 6 months
wwwProfitableTradingcom
5 Foods never to eatAvoid these 5 foods You will burn stomach
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wwwBeyondDietcomLose-Weight
Drivers EducationLooking For Schools Classes amp Universities
Find It With Localcom
LocalcomDriver Education Courses
ads
6 GDP
grow th next
f iscal better
2nd half in
2013-14
CAD to remain
w ithin limit
Chidambaram
GDP grow th
seen betw een
5-55 per cent
in 2013-14
Chidambaram
The Reserve
Bank expects 5
to 55 grow th
in current f iscal
Economy
heading
tow ards better
times no
reason to
RBI Governor
Raghuram
Rajan sticks to
5 GDP
grow th
Chinarsquos grow th
may hit 76
percent
Twitter Facebook Google Reddit Pinterest LinkedIn
Press This StumbleUpon Tumblr Pocket Digg Email
Recession The Economy New Economy New India
Free Kitchen Catalog 2014wwwsleekworldcom
New Colors Amazing Designs amp More Grab Your Free Copy Today
Name
Website
IndiaVision WebEditor
8020 people like IndiaVision WebEditor
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Like
11314 Manufacturing slides into recession in April-November - IndiaVision Latest Breaking News and Information about India | IndiaVision Latest Breaking News ahellip
wwwindiavisioncombusinessmanufacturing-slides-recession-april-november472525 33
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11314 Manufacturing slides into recession in April-November - IndiaVision Latest Breaking News and Information about India | IndiaVision Latest Breaking News ahellip
wwwindiavisioncombusinessmanufacturing-slides-recession-april-november472525 23
Share this On
the Central Statistics Office (CSO) The overall index of industrial production (IIP) shrunk 02 per cent
during April-November 2013 The rate of contraction for overall industrial output in November was 21
per cent
Further even exports lost momentum in December as per trade data also released on Friday Year-
on-year export growth slowed from 59 per cent in November to 35 per cent according to official data
released here by the Commerce Ministry
Ten of the 22 manufacturing groups showed negative growth in November Consumer durables
recorded a negative growth of 215 per cent over November 2012
Radio TV and communication apparatus showed the sharpest negative growth of 422 per cent
followed by office accounting and computing machinery (275 per cent) and furniture manufacturing
(195 per cent)
ldquoThe IIP is flat due to the complete stoppage in sugar production though sugar has a low weight in itrdquo
said Saumitra Chadhuri member of Prime Ministerrsquos Economic Advisory Council
PTI reports
Power generation segment posted a growth of 63 per cent in the month under review compared to
24 per cent growth in the same month of 2012
Expansion in power generation was 54 per cent in April-November as compared to 44 per cent in the
same period in 2012
Capital goods production a barometer of demand showed a growth of 03 per cent in November
2013 compared to a contraction of 85 per cent in the same month a year ago
Click here to submit your review
Related News
Related posts
1 Indiarsquos manufacturing Purchasing Managers Index (PMI) expands in November
2 Inflation rises to 752 per cent in November
3 Retail inflation jumps to 9-month high in November
4 Indiarsquos trade deficit up $921 bn in November
Filed in Business
Leave a Reply
Your email address will not be published Required fields are marked
RSS - Posts
One Trade Once A WeekThis year wersquove seen gains of 72 42
and 60 in less than 6 months
wwwProfitableTradingcom
5 Foods never to eatAvoid these 5 foods You will burn stomach
fat every day
wwwBeyondDietcomLose-Weight
Drivers EducationLooking For Schools Classes amp Universities
Find It With Localcom
LocalcomDriver Education Courses
ads
6 GDP
grow th next
f iscal better
2nd half in
2013-14
CAD to remain
w ithin limit
Chidambaram
GDP grow th
seen betw een
5-55 per cent
in 2013-14
Chidambaram
The Reserve
Bank expects 5
to 55 grow th
in current f iscal
Economy
heading
tow ards better
times no
reason to
RBI Governor
Raghuram
Rajan sticks to
5 GDP
grow th
Chinarsquos grow th
may hit 76
percent
Twitter Facebook Google Reddit Pinterest LinkedIn
Press This StumbleUpon Tumblr Pocket Digg Email
Recession The Economy New Economy New India
Free Kitchen Catalog 2014wwwsleekworldcom
New Colors Amazing Designs amp More Grab Your Free Copy Today
Name
Website
IndiaVision WebEditor
8020 people like IndiaVision WebEditor
Facebook social plugin
Like
11314 Manufacturing slides into recession in April-November - IndiaVision Latest Breaking News and Information about India | IndiaVision Latest Breaking News ahellip
wwwindiavisioncombusinessmanufacturing-slides-recession-april-november472525 33
M7GMexwQR4Dq Copy This Password
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4778 Spam Comments Blocked so far by Spam Free Wordpress
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11314 Manufacturing slides into recession in April-November - IndiaVision Latest Breaking News and Information about India | IndiaVision Latest Breaking News ahellip
wwwindiavisioncombusinessmanufacturing-slides-recession-april-november472525 33
M7GMexwQR4Dq Copy This Password
Type Or Paste Password Here
4778 Spam Comments Blocked so far by Spam Free Wordpress
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title=gt ltbgt ltblockquote cite=gt ltcitegt ltcodegt ltdel datetime=gt ltemgt ltigt ltq
cite=gt ltstrikegt ltstronggt
Post Comment
Comment
Notify me of follow-up comments by email
Notify me of new posts by email
Contact Us | Pravacy Policy | Disclaimer | Terms of Use
Select Language Pow ered by Translate
copy 2013 IndiaVisioncom Inc New s and Information portal All rights reserved 233 || queries in 1689 seconds