India’s industrial output growth slid to a three-month low of 5.8 per cent in September from a 14-month high of 10.3 per cent in August, mainly due to base effect, subdued manufacturing, especially consumer goods output, data released by the National Statistical Office (NSO) on Friday showed. The factory output growth has come in much lower than economists’ expectations which had pegged it broadly over 7 per cent.
Manufacturing, which accounts for 77.6 percent of the weight of the IIP (Index of Industrial Production), grew by 4.5 per cent in September as against 2.0 per cent in September 2022 and 9.3 per cent in August 2023. In absolute terms, manufacturing index to 140.6 in September from 134.6 in the year-ago period but was lower than 143.5 in August this year.
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