October IIP shocks, dips 5.1 percent
Among sectors, manufacturing and mining posted declines of 7.2 percent and 6 percent, respectively, from a year ago
The Index of Industrial Production for October contracted 5.1 percent from a year ago. Last year, the index gained 11.3 percent in October.
Among sectors, manufacturing and mining posted declines of 7.2 percent and 6 percent, respectively, from a year ago. Electricity was the only sector that posted an increase of 5.6 percent.
Among user industries, a contraction was visible across the board. Capital goods output shrank a shocking 25.5 percent from a year ago, while intermediate goods production also fell 4.7 percent.
Basic goods, consumer goods, consumer durables and consumer durables also logged in marginal declines.
For the IIP press release and tables, click here.
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The February factory output numbers, if portraying the true picture, indeed offers a sign that things may improve from this point
For August, it was revised to 0.48 percent from the provisional estimates of 0.42 percent released last month, according to the data released by the Central Statistics Office today.