Bharti’s speed is increasing day by day on the growth path, but this report on industry output has surprised everyone. The country’s industrial production (IIP) fell to a five-month low of 4.2 per cent in June 2024 due to poor performance of the manufacturing sector. However, the power and mining sectors continue to perform well. According to official data, the industrial production index, which measures industrial activity, grew at a rate of 4.2 per cent in June this year, as against 4 per cent in the same period last year.
the lowest in five months
However, on a monthly basis, the IIP performance has been the lowest in the past five months. This year, it increased by 6.2 per cent in May, five per cent in April, 5.5 per cent in March and 5.6 per cent in February. Moreover, the IIP growth in the April-June period of the current financial year was 5.2 per cent, compared to 4.7 per cent in the same period of the last financial year.
Ministry gave information
The Ministry of Statistics and Program Implementation said in the statement that mining output growth increased to 10.3 percent in June, while it had increased by 7.6 percent in the same month of the previous year. However, the growth rate of the manufacturing sector, which occupies an important place in industrial production, decreased to 2.6 percent in June, while it had increased by 3.5 percent in the same month of the previous year.
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Electricity production increased by 8.6 percent in the same month, while the growth of this sector in the same month last year was 4.2 percent. According to the classification based on use, the growth of the capital products segment slowed down to 2.4 percent in June 2024 compared to the growth of 2.9 percent in the same period a year ago. The production of durable consumer goods increased by 8.6 percent in June this year, while it decreased by 6.8 percent in June 2023.
I’m surprised by this
The output of non-durable consumer goods decreased by 1.4 percent in the same month, while in May 2023 it had increased by 0.5 percent. According to the data, the growth rate of infrastructure and construction goods decreased in June to 4.4 percent, compared with 13.3 percent in the same period last year. The data also showed that the output of primary products registered a growth of 6.3 percent in June this year, compared with 5.3 percent a year ago. The intermediate goods segment grew by 3.1 percent in the month under review, lower than the 5.2 percent recorded a year ago.
