Data Alert
Oct IIP growth rises to 3.5% from 3.1% in Sept
This story was originally published at 17:22 IST on 12 December 2024
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--India Oct industrial growth 3.5% vs 11.9% year ago
--Informist poll estimated Oct industrial growth at 3.5%
--India Oct mining sector growth 0.9% vs 13.1% year ago
--India Oct manufacturing sector growth 4.1% vs 10.6% year ago
--India Oct electricity sector growth 2.0% vs 20.4% year ago
--India Oct primary goods output growth 2.6% vs 11.4%
--India Oct primary goods output growth 2.6% vs 11.4% year ago
--India Oct capital goods output growth 3.1% vs 21.7% year ago
--India Oct intermediate goods output growth 3.7% vs 9.5% year ago
--India Oct infrastructure goods output growth 4.0% vs 12.6% year ago
--India Oct consumer durables output growth 5.9% vs 15.9% year ago
--India Oct consumer non-durables output growth 2.7% vs 9.3% year ago
--India Apr-Oct industrial growth 4.0% vs 7.0% year ago
NEW DELHI - India's industrial production rose at a slightly faster pace in October than in September, with all three sectors showing improved performance, data released by the National Statistical Office Thursday showed. As per the data, industrial growth, as measured by the Index of Industrial Production, rose to 3.5% in October.
Industrial output had increased by 3.1% in September, rebounding from a 0.1% contraction in August. It had grown 11.9% in October last year. At 3.5%, the latest IIP growth print is exactly in line with the consensus estimate as per an Informist poll.
For Apr-Oct, India's industrial output rose 4.0%, lower than the 7.0% recorded in the first seven months of the financial year 2023-24 (Apr-Mar).
The output of all three sectors, mining, manufacturing, and electricity, grew more in October than it had in September. While mining output rose 0.9%, up from 0.2% the previous month, that of manufacturing was up 4.1% against a 3.9% increase in September. The biggest improvement was seen in electricity, where production rose 2.0%, four times more than September's increase of 0.5%.
"Within the manufacturing sector, 18 out of 23 industry groups at NIC (National Industry Classification) 2-digit level have recorded positive growth in October 2024 over October 2023. The top three positive contributors for the month of October 2024 are 'Manufacture of basic metals' (3.5%), 'Manufacture of electrical equipment' (33.1%), and 'Manufacture of coke and refined petroleum products' (5.6%)," the statistics ministry said in a statement.
Performance was slightly mixed in October compared to September for all the goods as per the use-based classification. While production of primary and infrastructure goods was up 2.6% and 4.0%, respectively, against 1.8% and 3.2% in September, growth reduced in the case of capital goods (3.1% versus 3.6%) and consumer durables (5.9% versus 6.5%). Meanwhile, the increase in output was only slightly higher in October than in September for intermediate goods (3.7% versus 3.6%) and consumer non-durables (2.7% versus 2.2%).
The following tables detail year-on-year changes in industrial output in October:
| October 2024 | September 2024 | October 2023 | |
| General | 3.5% | 3.1% | 11.9% |
| Mining | 0.9% | 0.2% | 13.1% |
| Manufacturing | 4.1% | 3.9% | 10.6% |
| Electricity | 2.0% | 0.5% | 20.4% |
| Primary goods | 2.6% | 1.8% | 11.4% |
| Capital goods | 3.1% | 3.6% | 21.7% |
| Intermediate goods | 3.7% | 3.6% | 9.5% |
| Infrastructure/construction goods | 4.0% | 3.2% | 12.6% |
| Consumer durables | 5.9% | 6.5% | 15.9% |
| Consumer non-durables | 2.7% | 2.2% | 9.3% |
| Mining | Electricity | Manufacturing | General | |||||
| FY25 | FY24 | FY25 | FY24 | FY25 | FY24 | FY25 | FY24 | |
| Apr | 6.8% | 5.1% | 10.2% | (-)1.1% | 4.2% | 5.5% | 5.2% | 4.6% |
| May | 6.6% | 6.4% | 13.7% | 0.9% | 5.1% | 6.3% | 6.3% | 5.7% |
| Jun | 10.3% | 7.6% | 8.6% | 4.2% | 3.5% | 3.5% | 4.9% | 4.0% |
| Jul | 3.8% | 10.7% | 7.9% | 8.0% | 4.7% | 5.3% | 5.0% | 6.2% |
| Aug | (-)4.3% | 12.3% | (-)3.7% | 15.3% | 1.1% | 10.0% | (-)0.1% | 10.9% |
| Sep | 0.2% | 11.5% | 0.5% | 9.9% | 3.9% | 5.1% | 3.1% | 6.4% |
| Oct | 0.9% | 13.1% | 2.0% | 20.4% | 4.1% | 10.6% | 3.5% | 11.9% |
| Nov | 7.0% | 5.8% | 1.3% | 2.5% | ||||
| Dec | 5.2% | 1.2% | 4.6% | 4.4% | ||||
| Jan | 6.0% | 5.6% | 3.6% | 4.2% | ||||
| Feb | 8.1% | 7.6% | 4.9% | 5.6% | ||||
| Mar | 1.3% | 8.6% | 5.9% | 5.5% | ||||
| Mining | Manufacturing | Electricity | General | |
| FY24 | 7.5% | 5.5% | 7.1% | 5.9% |
| FY23 | 5.8% | 4.7% | 8.9% | 5.2% |
| FY22 | 12.2% | 11.8% | 7.9% | 11.4% |
| FY21 | (-)7.8% | (-)9.6% | (-)0.5% | (-)8.4% |
| FY20 | 1.6% | (-)1.4% | 1.0% | (-)0.8% |
| FY19 | 2.9% | 3.9% | 5.2% | 3.8% |
| FY18 | 2.3% | 4.6% | 5.4% | 4.4% |
| FY17 | 5.3% | 4.4% | 5.8% | 4.6% |
| FY16 | 4.3% | 2.8% | 5.7% | 3.3% |
| FY15 | (-)1.4% | 3.8% | 14.8% | 4.0% |
| FY14 | (-)0.1% | 3.6% | 6.1% | 3.3% |
| FY13 | (-)5.3% | 4.8% | 4.0% | 3.3% |
Source: Ministry of Statistics and Programme Implementation
End
Reported by Siddharth Upasani
Edited by Rajeev Pai
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