Government holds back full industrial output data for 2nd month in May – Times of India: NEW DELHI: The federal government has held again the discharge of complete industrial production data for the second straight month in Could in view of the influence of the coronavirus-induced lockdown.
Government holds back full industrial output data for 2nd month in May – Times of India
The ministry of statistics and programme implementation on Friday launched fast estimates of the Index of Industrial Manufacturing (IIP) which confirmed the index worth at 88.Four in Could towards 53.6 in April, indicating a graded pickup in industrial exercise. The index stood at 135.Four in Could 2019.
The ministry didn’t present any comparable share information whereas noting that it isn’t acceptable to check the IIP information with earlier months resulting from COVID-19 lockdown.
The IIP information comes with a lag of six weeks.
“In view of preventive measures and announcement of nation-wide lockdown by the federal government to comprise unfold of COVID-19 pandemic, majority of the industrial sector establishments weren’t working from the top of March, 2020 onwards. This has had an influence on the objects being produced by the institutions in the course of the interval of lockdown and the following durations of conditional relaxations in restrictions,” the ministry mentioned in a launch.
Extra on Covid-19
The IIP for the month of Could 2020 stands at 88.Four towards 53.6 for April 2020. The manufacturing unit output index was at 135.Four in Could 2019, which signifies a contraction of 34.71 per cent in industrial exercise in Could 2020.
Final yr, the IIP had recorded a development of 4.5 per cent.
The ministry mentioned, “As talked about within the press launch for the IIP for April, 2020, it is probably not acceptable to check the IIP for Could 2020 with these of months previous the COVID 2019 pandemic.”
The variety of items responding has improved in Could 2020 as in comparison with the sooner months of lockdown. The weighted response charge at time of QE of April 2020 was 87 p.c which is now revised upwards to 91 p.c at first revision.
As per the info, the indices of commercial manufacturing for mining, manufacturing and electrical energy sectors for Could 2020 stood at 87.0, 82.Four and 149.6 respectively.
As per use-based classification, the indices stood at 105.5 for major items, 37.1 for capital items, 77.6 for intermediate items and 84.1 for infrastructure/ building items for Could 2020.
Additional, the indices for shopper durables and shopper non-durables stood at 42.2 and 132.three respectively for Could 2020.