The Hindu : National : Slump in consumer goods segment

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Friday, Jun 13, 2008
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Slump in consumer goods segment

NEW DELHI: The industrial growth rate for the fiscal 2007-08 has worked out to 8.3 per cent, down from 11.6 per cent in 2006-07, according to figures released by the Union government on Thursday.

As per the Index of Industrial Production data, released by the Central Statistical Organisation, the brunt of the manufacturing slump was in the consumer goods segment: it declined to 8.9 per cent in April 2008 from 14.7 per cent in April 2007. Consumer durables managed to grow by 5.5 per cent during the month compared to 2.4 per cent in April 2007. But the non-durables segment slumped to 9.8 per cent from 18.7 per cent.

The intermediate goods segment witnessed a decline in growth from 10.6 per cent to 4.2 per cent.

However, capital goods, the key sector that catalyses industrial production, saw a growth of 14.2 per cent in April, up from 10.9 per cent in April 2007. The growth in basic goods decelerated to 4.6 per cent from 8.6 per cent. Overall, 14 of 17 industries showed a positive growth trend in April 2008.

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