Industrial production slows to 14-month low of 0.4% in October

Industrial production for October

Industrial production eased in October to a 14-month low of 0.4 percent compared with 4.6 percent in the previous month, according to official data released by the government.

The slowdown in industrial production is in line with the performance of core industries, where growth fell to a 14-month low of 0 percent compared with the previous fiscal, as energy heavy sectors dragged the index into stagnation.

The eight core industries — coal, crude oil, natural gas, refinery products, fertilisers, steel, cement, and electricity — together account for 40 percent of the Index of Industrial Production (IIP).

The sharpest pullback came from coal, where output contracted 8.5 percent, reversing the surge seen in August. The decline was exacerbated by a 7.6 percent fall in electricity generation.