New Delhi: India’s industrial production growth remained calm for the second consecutive month and expanded by 3.2 percent in October, mainly due to low low effects while the mining, power and manufacturing sector was carried out properly.
The manufacturing sector, which constituted 77.63 percent of the industrial production index (IIP), grew two percent in October, according to data issued by the National Statistics Office (NSO) on Friday.
The mining sector output rose 11.4 percent in October, while power plants increased 3.1 percent.
The factory output recording two digit growth in four months from May to August this year.
Then he slipped to 3.3 percent in September this year and further to 3.2 percent, mainly due to reduced low basic effects.
In October 2021, IIP reached 133.7 points compared to 129.6 points in the same month last year.
The index established at 124 points in October 2019, according to NSO data.
Thus, data shows fading from low basic effects.
IIP growth witnessed double digit growth from May and so on this year, mainly due to lower basic effects.
IIP has grown by 4.5 percent in October 2020.
During April-October this year, IIP grew 20 percent against contractions of 17.3 percent in the same period last year.
Data showed that industrial production recovered in September 2020 and surpassed the pre-pandemic level September 2019.
IIP had grown one percent on September 2020.
Industrial production fell 18.7 percent in March last year after the Covid outbreak and remained in the negative zone until August 2020 .
With the resumption of economic activities, the factory output rose 1 percent in September 2020 and grew 4.5 percent in October.
In November 2020, the factory output fell 1.6 percent and then entered a positive area with 2.2 percent growth in December 2020.
IIP has recorded a contraction of 0.6 percent and 3.2 percent in January and February this year.
In March, it grew 24.2 percent.
For April, NSO held back the release of complete IIP data.
In May 2021, IIP rose 27.6 percent, and in June, it grew 13.8 percent.
The factory output grew 11.5 percent in July and 12 percent in August this year.
The second wave of pandemic began in mid-April this year, and many countries imposed restrictions to curb the spread of Coronavirus infection.
“The growth rate in the period in accordance with the previous year must be interpreted given the unusual circumstances because of the Pandemic Covid-19 since March 2020,” NSO said in the statement.
The government has imposed a national locking to contain the spread of Coronavirus infection on March 25, 2020.
The manufacturing sector has recorded a growth of 4.5 percent in October 2020.
The mining sector output is contracted by one percent in the same month.
The power plant has grown by 11.2 percent in October 2020.
The output of capital goods, which is an investment barometer, contracted by 1.1 percent in October 2021.
It has witnessed a growth of 3.2 percent in the period last year.
Durles Manufacturing consumers were contracted 6.1 percent in the month which was being reviewed by a growth of 18.1 percent in October 2020.
The production of non-durable non-durable goods grew 0.5 percent in October against a 7.3 percent increase in the period last year.
IIP growth remains calm for the second consecutive month
