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Industrial Growth up from last
year
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Manufacturing growth is seen
as reason although no reasons are cited for growth
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Mining and electricity are
major worries
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The Central Statistical Organization (CSO) reported that industrial output
grew to 9.8% from 9.5% in April-May due to a strong 10.9% growth (from 10.3%
last year) in the manufacturing sector but no reasons were provided for the
growth. While consumer goods (9% from 15.9%), mining (3.2% from 4%), and
electricity (5.3% from 6.7%) sectors continued to be problem areas, capital
goods grew handsomely at 21.1% (from 13.9% in April-May 2005). The decline in
consumer goods is attributed to the sharp fall in growth rates of consumer
non-durables.
While the April-May figures look good for industrial, the May figure alone
shows a growth of 10% versus 10.8% of last year in reflection of Manufacturing
at par growth of 11.3% this year.
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