Industrial production shows strong pickup in Oct at 3.6%
Industrial production shows strong pickup in Oct at 3.6%
BusinessToday.In
- Dec 14, 2020,
- Updated Dec 14, 2020 9:53 AM IST
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Industrial output, measured by the index of industrial production (IIP), rose 3.6 per cent on year-on-year basis in October 2020. The growth was higher than the 0.5% growth registered in the preceding month.
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Mining activities continued to see contraction with 1.5% decline during the month.
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Electricity generation, on the other hand, grew double-digits to 11.2% in October.
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The manufacturing sector reported a 3.5% growth in production in October 2020.
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Output of primary goods fell 3.3%, while that of intermediate goods rose by a meagre 0.8%. Production of capital goods grew 3.3% and that of infrastructure/construction goods grew 7.8%. Among consumer goods, production of durables rose a robust 17.6% and that of non-durables grew 7.5%.
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Cumulative IIP during April-October 2020 declined 17.5% against 0.1% growth during the same period a year ago.