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October IIP contracts 3.8 per cent

In terms of industries, eighteen out of the twenty-three industry groups (as per 2-digit level of National Industrial Classification-2008) in the manufacturing sector have shown negative growth during the month of October 2019 as compared to the corresponding month of the previous year.

ET Online|
Updated: Dec 12, 2019, 05.52 PM IST
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CPI jumps to 5.5% in November, October IIP at -3.8%
CPI jumps to 5.5% in November, October IIP at -3.8%
NEW DELHI: India's industrial output contracted to 3.8 percent month-on-month (MoM) for three consecutive time in October against 4.3 percent in September, according to the Index of Industrial Production (IIP) data released by the Central Statistics Office.

In terms of industries, eighteen out of the twenty three industry groups (as per 2-digit level of National Industrial Classification-2008) in the manufacturing sector have shown negative growth during the month of October 2019 as compared to the corresponding month of the previous year.

October manufacturing showed output degrowth of 2.1 percent and mining output at (-) 8 per cent v/s (-) 8.5 per cent in September.

Electricity output showed degrowth of 12.2 percent in October.

The Consumer durables and Consumer non-durables have recorded growth of (-) 18.0 percent and (-) 1.1 percent respectively.

The index of industrial production showed contraction in the months of August and September, led by contraction in the manufacturing sector followed by construction.

RBI in its fifth bimonthly policy has revised GDP growth downwards to 5 percent from 6.1 percent earlier.

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