India’s Industrial Output Rises Most In 11 Months In October
India’s industrial production growth rose sharply in October getting a boost from demand ahead of the festival season.
The Index of Industrial Production rose 8.1 percent over last year in October, compared with a revised 4.5 percent growth in July, data released by the Ministry of Statistics and Programme Implementation showed. That’s the fastest since November 2017.
A Bloomberg poll of economists had projected a 6 percent growth.
- Mining output rose 7 percent year-on-year.
- Manufacturing output rose 7.9 percent.
- Electricity generation growth stood at 10.8 percent.
Output in 21 of the 23 industry groups in the manufacturing sector grew in October, with furniture, wearing apparel and wood and wood products witnessing the highest growth. On the other hand, printing and manufactured beverages saw the steepest decline.
The use-based classification showed that primary goods output rose 6 percent and capital goods output increased 16.8 percent. Output of intermediate goods grew 1.8 percent.
- Infrastructure goods production rose 8.7 percent.
- Consumer durables output rose 17.6 percent.
- Non-consumer durables grew 7.9 percent over last year.