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India`s industrial output in negative zone again, contracts 1.9% in October
Industrial production contracted by (-)1.9 percent in October mainly due to poor show by manufacturing and mining sectors coupled with decline in capital goods output.
New Delhi: Industrial production contracted by (-)1.9 percent in October mainly due to poor show by manufacturing and mining sectors coupled with decline in capital goods output.
The factory output for the April-October period of the current financial year declined by (-)0.3 percent compared to 4.8 percent growth in the year-ago period, as per the data released by Central Statistics Office on Friday.
Factory output, as measured in terms of the Index of Industrial Production (IIP), had grown by 9.9 pecent in October last year.
The manufacturing sector, which constitutes over 75 percent of the IIP index, contracted by (-)2.4 percent in September compared to 10.6 percent growth a year ago. Similarly the capital goods output also shrank by 25.9 percent.
In terms of industries, twelve out of the twenty two industry groups in the manufacturing sector have shown negative growth during the month of October as compared to the corresponding month of the previous year.