The Hindu : CII update shows improvement in manufacturing sector

Online edition of India's National Newspaper
Tuesday, Jan 21, 2003

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Business

CII update shows improvement in manufacturing sector

By Our Special Correspondent

NEW DELHI JAN. 20. As many as 21 sectors had actually done better in the first nine months of 2002-03 than in the same months of 2001-02, according to the latest CII survey.

The latest ASCON industry monitor prepared by the Confederation of Indian Industry (CII) and released this week shows that the manufacturing sector was doing better than before. This monitor, which was prepared last week updates the earlier Monitor released in the second week of December 2002. The earlier monitor had estimated data for the nine months ending December 2002. The latest monitor has actual data for the same nine months ending December 2002.

According to the survey, a total of 22 sectors have done better than estimated and eleven have done worse than expected.

Five sectors saw an increase in production more than what was estimated. These range from three wheelers to nylon tyre yarn and include electrical fans, scooters, and cars.

Nine sectors have seen an increase in sales beyond the earlier estimates.

They range from castings to tea and include cement, cold rolled steel strips, construction industry, refrigerators, malted foods, diesel, and processed food.

Eight sectors have exported better than what the earlier monitor had said. These range from aluminium to textile machinery (which did less badly than was earlier thought) and include cars, motorcycles, mopeds, steel, polyester filament yarn, and tea.

Six sectors have seen a decrease in production that was more than estimated ranging from cigarettes to LPG. They include transformers, power transformers, motor starters, and motor stampings.

Three sectors have seen a decrease in sales more than estimated. These are polyester filament yarn, textile machinery, and transmission line towers.

Two sectors in the automobile industry have seen worse exports than anticipated. These are light commercial vehicles and medium and heavy commercial vehicles.

The earlier monitor had said that there was a strong recovery underway. Later, the latest index of industrial production confirmed the ASCON Monitors forecast for faster economic growth.

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