Industrial output growth fastest in 11 months at 8.1% in October
14/12/2018
new delhi: India's industrial output grew at an 11-month high of 8.1 percent in October mainly on the back of mining, power and manufacturing sectors coupled with higher offtake of capital as well as consumer durable goods.
Industrial production measured in terms of Index of Industrial Production (IIP) grew 1.8 percent in October last year, as per official data released by the Central Statistics Office (CSO) Wednesday.
The previous high IIP growth rate was recorded in November last year at 8.5 percent. The growth for September remained unchanged at 4.5 percent compared to provisional data released last month.
During the April-October period, industrial output grew 5.6 percent as compared to 2.5 percent in the same period of the previous fiscal.
Manufacturing sector, which constitutes 77.63 percent of the index, recorded 7.9 percent growth in October as against 2 percent year ago. Mining sector posted 7 percent growth during the month as against a contraction of 0.2 percent in October 2017.
The power sector output also grew by 10.8 percent in the month compared to 3.2 percent a year ago.
The capital goods sector saw a 16.8 percent output growth in the month, up from 3.5 percent a year ago. Consumer durables expanded at 17.6 percent as compared to a contraction of 9 percent a year earlier.
In terms of industries, 21 out of 23 industry groups in the manufacturing sector have shown positive growth during October 2018.
As per use-based classification, the growth rates in October 2018 over October 2017 are 6.0 percent in primary goods, 1.8 percent in intermediate goods and 8.7 percent in infrastructure/construction goods. The consumer non-durables have recorded growth a 7.9 percent growth.
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