India’s factory output falls to 2.2 percent in October

India’s industrial output slowed to 2.2 percent in October as compared with 3.8 percent a month ago.

Factory output measured by the index of industrial production (IIP) is the closest approximation for measuring economic activity in the country’s business landscape.

Manufacturing sector, which accounts for more than three-fourths of the entire index, grew 2.5 percent in October, compared with 3.4 percent growth in September, and 4.8 percent growth in October 2016, government data showed.

Capital goods output, which is a proxy to measure private sector investment activity, rose 6.8 percent in October compared with 7.4 percent in September.

Consumer durables output fell 6.9 percent in September, against a fall of 4.8 percent in the month before. In the same month last year, growth was 0.2 percent.

Mining production grew 0.2 percent in October from 1.0 percent in the same month last year.

Electricity production increased 3.2 percent in October as compared with 3.4 percent in September. Consumer non-durables grew 7.7 percent, from a fall of 3.0 percent a year ago.