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    Factory output in April rises to 4.9%

    Factory output in April rises to 4.9%

    Factory output in April rises to 4.9%
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    By Suman Singh   IST (Updated)

    Driven by an uptick in the manufacturing sector in April 2018, the general index of industrial production rose to 4.9 percent compared to last year, in line with the estimates from the CNBC-TV18 poll.
    The IIP for the month of April rose to 123.0, from 117.3 in the corresponding period last year, the Ministry of Statistics and Programme Implementation said.
    The cumulative growth for the 11-month period of April-March is at 4.3%.
    A poll conducted by CNBC-TV18 showed that the IIP for April 2018 is expected to be between 4.8 percent and 6.6 percent.
    The industrial production will be led by growth in manufacturing and mining in the month, analysts said, adding that the auto sales were healthy with passenger vehicle sales up by 7.5 percent year-on-year.
    The IIP  was down to 3.17 percent in April 2017, compared to 3.7 percent in March 2017.
    "16 out of 23 industry groups in the manufacturing sector have shown positive growth during the month of April 2018 as compared to the corresponding month of the previous year," the report said.
    The indices of industrial production for the mining, manufacturing and electricity sectors for the month of April 2018 stand at 103.8, 123.4 and 153.7 respectively, with the corresponding growth rates of 5.1 percent, 5.2 percent and 2.1 percent as compared to April 2017.
    The cumulative growth in these three sectors during April-March 2017-18 over the corresponding period of 2016-17 has been 2.3 percent, 4.5 percent and 5.4 percent respectively.
    Nikkei manufacturing PMI rose to 51.6 in April 2018 compared to 51 in March.
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