IIP October 2019: Industrial production declined 3.8% in October

Industrial Index of Production (IIP) October 2019: The figures related to industrial production for October 2019 have been released by the government. Industrial production fell by 3.8 percent in October.

New Delhi: The October figures for industrial production have been released. Industrial growth declined by 3.8 per cent in October, down by 4.3 per cent in September (2019). Talking about industrial growth rate, mining has been at 99.5 in October.

The industrial growth rate in the mining sector has fallen by 8 per cent. At the same time, manufacturing declined by 2.1 percent. The power sector recorded a decline of 12.2 percent.

Manufacturing output declined by 3.9 percent in September. While the mining sector was down by 8.5 percent in September. Growth in primary products declined by 6 per cent last month from 5.1 per cent in October.

On the other hand, Capital Goods Production recorded a decline of 21.9 percent in October, compared to a decline of 20.7 percent in September. Consumer durables fell 18 percent last month, from 9.9 percent a month earlier. At the same time, electricity production declined by 12.2 percent, which fell by 2.6 percent in September.

It is worth noting that in the July-September 2019 quarter, the country’s economic growth rate has been 4.5 percent of GDP. It has been the weakest GDP figure since the fourth quarter of 2012-13. 

The gross value added, which is the difference between GDP and tax, has been 4.3% in the July-September 2019 quarter. Which was 4.9 percent in the previous quarter and 6.9 percent in the same quarter last year.

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