Manufacturing industry is slowly improving, research finds

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8th December 2014 16:34 - Industrial

Research from the Confederation of Indian Industry-ASCON, which analysed data from the July-September quarter, has shown that the growth of the manufacturing industry is starting to improve.

The number of sectors declaring a growth of more than 10 per cent has reached 39%, in the September quarter of 2014, up from 26% the year before.

On the other hand, the percentage of sectors claiming to have grown less than 10% has fallen to 70% in the September quarter of 2014, from 74% the previous year.

The Confederation of Indian Industry-ASCON has claimed that growth has occurred in sectors such as white goods, synthetic fibre, consumer non-durables, machine tools and rubber machinery.

In the white goods sector, fridges, air conditioning units and small appliances have grown at a rate of 12-15%, as a result of Christmas sales.

The Confederation of Indian Industry-ASCON also revealed that power cables and circuit breakers have seen a growth rate of 10-20%.

However, the automotive sector has not seen such positive figures, as low to negative growth rates have occurred in passenger cars, utility vehicles, tyres and commercial vehicles. On the contrary, two and three wheelers grew.

A separate report by Ficci has alluded to moderation in the growth of the manufacturing industry in the October–December quarter compared to July–September.

Of the respondents working in 13 manufacturing sectors, it was found that those anticipating an increase in production in the October–December quarter have fallen to 52% from 62% last year.

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