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Factory output dips 2.1% in November to 6-month low

Factory output, as measured in terms of the Index of Industrial Production (IIP), declined by one per cent in November 2012.

Meanwhile, contraction in IIP for October last year has been revised marginally to 1.57 per cent from the provisional estimate of 1.8 per cent dip in production.

The previous low in IIP was recorded at (-) 2.5 per cent in May, 2013. According to data released by the government, industrial output for April-November period in 2013, too, contracted by 0.2 per cent as compared to a growth of 0.9 per cent in the same period of 2012-13.

The manufacturing sector, which constitutes over 75 per cent of the index, declined by 3.5 per cent in November as against a contraction of 0.8 per cent a year ago. During April-November, the sector's output contracted 0.6 per cent compared to a growth of 0.9 per cent in same period in 2012.

Overall, the consumer goods output declined by 8.7 per cent in November compared to a contraction of 0.3 per cent in the same month in 2012. During April-November, 2013, the consumer goods output contracted by 2.6 per cent compared to 3.6 per cent growth in the corresponding period in 2012. The consumer durables segment contracted by 21.5 per cent in November as against a growth of 1.1 per cent in the same month in 2012. In terms of industries, 10 out of 22 industry groups in the manufacturing sector have shown negative growth during the month of November. The growth in consumer non-durables sector was 2.5 per cent in November as against a contraction of 1.5 per cent in the same month in 2012. During April-November 2013, the segment's growth was 6.3 per cent compared to 2.3 per cent growth in the same period in 2012.

The mining sector, with a weight of about 14 per cent in IIP, grew by one per cent in November as against a dip of 5.5 per cent in the same month in 2012. During April-November, the output shrank by 2.2 per cent as against a contraction of 1.6 per cent. Power generation segment posted a growth of 6.3 per cent in the month under review compared to 2.4 per cent growth in the same month of 2012. Capital goods production, a barometer of demand, showed a growth of 0.3 per cent in November 2013 compared to a contraction of 8.5 per cent in the same month a year ago.

Dec exports up 3.5%, imports dip 15.3%, trade deficit down 42.2%


New Delhi:
India's exports grew 3.49 per cent in December to $26.3 billion, while imports dipped 15.25 per cent. Imports last month were $36.4 billion. However, growth in exports was slower than in November, when outbound shipments rose 5.86 per cent.

Commerce Secretary S R Rao said export growth slowed mainly because of a drop in petroleum exports.

‘It is only one product group which has contributed to (slower growth in exports) and that is petroleum products,’ he told reporters here. There was an unplanned maintenance shutdown at Reliance Industries, one of the country's largest exporters, Rao said. However, lower imports helped to narrow the trade deficit to $10.1 billion in December compared with $17.5 billion in the same period of 2012. Gold and silver imports in December dropped to $1.77 billion from $5.6 billion a year earlier. For the April-December period, exports aggregated $230.3 billion and imports $340.3 billion while the trade deficit stood at $110 billion.

Meanwhile, India’s trade deficit with its top trading partner China continued to mount, touching a whopping $31.42 billion as the bilateral trade declined by 1.5 per cent in 2013, registering a downward trend for the second consecutive year.

China’s trade surplus soars 12.8% to $260 bn in 2013

Beijing: China’s annual trade exceeded the $4 trillion mark for the first time last year as exports rose 7.9 per cent to $2.21 trillion on higher shipment of goods to the European Union and the US, its main markets.

Imports rose 7.3 per cent to $1.95 trillion and China’s trade surplus widened to $259.75 billion in 2013, a rise of 12.8 per cent from a year earlier, General Administration of Customs Spokesman Zheng Yuesheng informed on Friday.
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