Industrial output growth slips to 5.8% in Sept
New Delhi, November 10
India’s industrial production growth decelerated to 5.8% in September from 10.3% in August, though on an annual basis, the output of manufacturing and mining sectors showed an improvement, according to the official data released on Friday. The factory output growth measured in terms of the Index of Industrial Production (IIP) had grown by 3.3% in September 2022.
During April-September 2023-24, the IIP growth works out to be 6%, down from 7.1% in the corresponding period a year ago.
Manufacturing shows uptick
- The factory output growth measured in terms of the Index of Industrial Production (IIP) had grown by 3.3% in September 2022
- During April-September 2023-24, the IIP growth works out to be 6%, down from 7.1% in the corresponding period a year ago
- However, on an annual basis, the output of manufacturing and mining sectors showed an improvement
“The growth rates over the corresponding period of the previous year are to be interpreted, considering the unusual circumstances on account of the Covid pandemic since March 2020,” an official statement said.
As per the IIP data released by the National Statistical Office (NSO), the manufacturing sector’s output grew 4.5% in September 2023 against a 2% growth a year ago. Power generation rose 9.9% in September 2023 compared to 11.6% growth in the year-ago period.
Mining output rose by 11.5% in the month under review against a 5.2% contraction a year ago. As per use-based classification, the capital goods segment grew 7.4% in September this year compared to 11.4% growth in the year-ago month.
Consumer durables output during the month grew by 1% against a contraction of 5.5%. Consumer non-durable goods output increased by 2.7% compared to a contraction of 5.7% a year earlier.
Infrastructure/construction goods posted a growth of 7.5% against an 8.2% expansion a year ago.
The data also showed that the output of primary goods logged 8% growth in the month compared to 9.5% in the year-ago period.
The intermediate goods output in September rose 5.8% from 1.7% growth during the corresponding month last year.
