Coronavirus Pandemic: India’s March factory output crashes #coronavirusnewstolive - May 12, 2020 21 0 COMMENTS
New Delhi: Contraction in manufacturing and electrical energy sector’s output on the again of Covid-19 outbreak and the next lockdown to curb its unfold plunged India’s factory manufacturing in March 2020.
Accordingly, the factory output crashed by (-) 16.7 per cent through the month underneath overview from a development of 4.62 per cent in February and a couple of.7 per cent recorded within the corresponding month of final 12 months.
“In view of the global COVID-19 pandemic and consequent nationwide lockdown measures implemented since March, the data flow from the producing units was impacted,” the Ministry of Statistics & Programme Implementation stated.
“As some of these units are yet to resume operations, the response rate has been lower than usual. Consequently, the Quick Estimates are likely to undergo revision and will be incorporated in subsequent releases as per the revision policy of IIP.”
Notably, the ‘Quick Estimates’ for March 2020 have been compiled at a weighted response price of 73 per cent, the primary revision for February 2020 had a weighted response price of 88 per cent and the ultimate revision for December 2019 had a weighted response price of 94 per cent.
Furthermore, the cumulative development for the interval April-March 2019-20 over the corresponding interval of the earlier 12 months stands at (-) 0.7 per cent from a development of three.eight per cent in 2018-19. As per the information, the output price of the manufacturing sector contracted by (-) 20.6 per cent in March from a YoY rise of three.1 per cent.
The output of different notable sectors, akin to mining and electrical energy era, additionally contracted.
The mining exercise development got here at a standstill from a YoY development 0.eight per cent and the sub-index of electrical energy era shrunk by (-) 6.eight per cent from an increase of two.2 per cent.