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Industrial Output In October Grows For Second Consecutive Month To Reach Eight Month High Of 3.6 Per Cent
An industrial and transport equipment manufacturing factory.
In a positive development, as per the latest data released by the National Statistical Office (NSO), the industrial output rose for a second successive month in October to an eight-month high as the economy continues to recover from the pandemic induced disruptions and setbacks, reports Times of India.
October saw the index of industrial production (IIP) surge by 3.6 per cent, building on the 0.5 per cent rise observed in the preceding month of September. The boost in industrial output in October was driven by a turnaround in manufacturing, electricity and consumer durables sector.
While consumer durables and non-durables sector witnessed 17.6 per cent and 7.5 per cent growth in October, electricity sector rose by 11.2 per cent. Meanwhile, the manufacturing sector rose by 3.5 per cent.
However, it should also be noted that this comes on the back of a lower base of 6.6 per cent contraction in IIP observed in October 2019. Also, in the entire April-October period, the IIP has witnessed a contraction of 17.5 per cent given the economy came to a grinding halt in the first quarter which witnessed lockdown being implemented in full force to contain the spread of COVID-19.
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