The initial signals being received by the Associated Chambers of Commerce and Industry (Assocham) reveals that six major industry segments machinery and equipment, basic metal and alloys, wood and products, textile products, cotton and non-cotton textiles have shown a decline in production. Five other major industry sectors - food products, wool, silk and manmade fibre textiles, non metallic mineral products, basic chemicals and leather products also indicates a lacklustre performance.

However, five major industry segments metal products, transport equipment, paper products, beverages and tobacco and rubber, plastic, petrol and coal have done extremely well with growth rates going up to two digit levels. In January sector-wise growthwas: consumer non-durables: -1.0 per cent, consumer durables: -2.2 per cent, all consumer goods: -1.3 per cent, capital goods: 9.8 per cent, intermediate goods: 6.8 per cent.