India’s factory output registered a growth of 3.2 per cent in the month of October led by growth in primary goods. The growth comes on the back of 4.5% rise witnessed in the same period last year as the economy was recovering from the first round of lockdown-induced contraction.
The consumer durables sector failed to capture the enthusiasm around the festive period and fell in October. It contracted by more than 6 per cent for the month and showed weakness in one of the areas where chip shortage has caused problems for the industry.
Manufacturing sector’s output grew 2 per cent in October 2021 while mining output surged by 11.4 per cent, and power generation went up by 3.1 per cent.
The IIP had grown by 4.5 per cent in October 2020.
During April-October this year, the IIP grew 20 per cent against a 17.3 per cent contraction in the same period last year.