Factory output enters positive zone

The index of industrial production (IIP) rose by a marginal 0.1 per cent in January.

Cumulative growth for the April-January period year-on-year was at a standstill from a growth of one per cent in the corresponding period in the previous fiscal, according to data released by the Central Statistics Office (CSO).

Factory output measured in terms of the Index of Industrial Production (IIP) had dropped by 0.6 per cent in December, registering a contraction for the third straight month.

In January, factory output gained by 0.1 per cent from 2.5 per cent in the year ago period. However, manufacturing sector declined by 0.7 per cent in the month under review from an increase of 2.7 per cent in January 2013. Mining sector output in January increased by 0.7 per cent from a deceleration of 1.8 per cent in the corresponding period last year.

Electricity sector output rose by 6.5 per cent from 6.4 per cent in the corresponding period in the previous year.