Industrial output rises 10.8 pc in October

Back in the double-digit growth after two months, the industrial output in October rose by 10.8 per cent on back of healthy performance of sectors such as automobile, electronic goods and power.
The industrial production, which crossed 15 per cent in July, dipped to 6.91 per cent in August and further to 4.4 per cent in September. It again entered the double-digit growth figure of 10.8 per cent in October, up from 10.1 per cent in the same month a year ago.
"The present growth rate of IIP (Index of Industrial Production) shows that revival of economic growth as started a year back is continuing", said Sripakash Jaiswal, Minister for Statistics and Programme Implementation.
The government attributed the rise in IIP to improved performance of the sectors such as ship building, power equipment and generators.
Besides, Jaiswal said high growth in production of consumer durable goods was mainly due to healthy growth in the production of passenger cars, motor cycles, scooters and mopeds, alarm time pieces and TV sales.
The IIP data reveals that manufacturing sector during October grew by 11.3 per cent and electricity generation by 8.8 per cent from 10.8 per cent and 4 per cent respectively in the corresponding month last year.
The growth rate of the mining sector, however, decelerated to 6.5 per cent during the month from 9.1 per cent on October 2009. The capital goods industry, according to data, recorded a growth of 22 per cent in October, up from 10.9 per cent during the same month a year ago.
During April-October, the industrial output showed an increase of 10.3 per cent, up from 6.9 per cent during the corresponding period last year.

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