Industrial production growth rate bounced back to a 16-month high of 8.2 per cent in October on good performance of the manufacturing, power sector and higher output ofcapital as well as consumer goods, indicating sudden recovery in the economy.
The factory output, as measured by the Index of Industrial Production (IIP), contracted by 5 per cent in October last year. The IIP had expanded by 9.5 per cent in June 2011.
Industrial output growth inthe April-October period this fiscal, however, was 1.2 per cent, less than 3.6 per cent in the same period in 2011-12, according to the official data released here today.
Meanwhile, the contraction in the industrial productionduring September this yearwas revised downward to 0.7 per cent per cent from earlier provisional estimates of 0.4 per cent released lastmonth.
The manufacturing sector, which constitutes over 75 per cent of the index, grewby robust 9.6 per cent in October, as against a contraction of 6 per cent in same month last year.
However, the output of the key sector remained low at one per cent in April-October this year as against 3.8 per cent growth in the same period in 2011-12.
Capital goods output also shown remarkable improvement as it grew by 7.5 per cent in October, as against a massive contraction of 26.5 per centin October 2011.
However, output of capital goods contracted in the April-October period by 11.4 per cent, as against a dip in production by 0.5 per cent in the 2011-12 period.
