Industry output decelerates in Sept
Domestic industrial production growth rate falls to 5.8% from 10.3% in Aug
image for illustrative purpose
Home Currency At Low Ebb
- Re traded in excess volatility
- Previous lowest was 83.32 on Sept 18
- Surging crude oil prices, unabated FII outflows weighing on
- Investors awaiting industrial output and inflation data
- Dollar index trading lower by 0.02% at 105.89
New Delhi: India’s industrial production growth decelerated to 5.8 per cent in September from 10.3 per cent in August, though on an annual basis, the output of manufacturing and mining sectors showed an improvement, according to the official data released on Friday. The factory output growth measured in terms of the Index of Industrial Production (IIP) had grown by 3.3 per cent in September 2022.
During April-September 2023-24, the IIP growth works out to be six per cent, down from 7.1 per cent in the corresponding period a year ago. “The growth rates over the corresponding period of the previous year are to be interpreted, considering the unusual circumstances on account of the Covid-19 pandemic since March 2020,” an official statement said.
As per the IIP data released by the National Statistical Office (NSO), the manufacturing sector’s output grew 4.5 per cent in September 2023 against a two per cent growth a year ago. Power generation rose 9.9 per cent in September 2023 compared to 11.6 per cent growth in the year-ago period. Mining output rose by 11.5 per cent in the month under review against a 5.2 per cent contraction a year ago.
As per use-based classification, the capital goods segment grew 7.4 per cent in September this year compared to 11.4 per cent growth in the year-ago month. Consumer durables output during the month grew by one per cent against a contraction of 5.5 per cent. Consumer non-durable goods output increased by 2.7 per cent compared to a contraction of 5.7 per cent a year earlier.
