Due to poor performance by related sectors, industrial production declines by 3.8% in October

Due to poor performance by related sectors, industrial production declines by 3.8% in October

Industrial production shrank by 3.8 per cent in October, mainly due to poor performance by power, mining and manufacturing sectors, according to official data released on Thursday.

Factory output, as measured in terms of Index of Industrial Production (IIP), had expanded 8.4 per cent in October 2018.

A slowdown was witnessed in the manufacturing sector, which declined by 2.1 per cent in October as compared to 8.2 per cent growth a year ago.

Power generation dipped sharply by 12.2 per cent in October, compared to 10.8 per cent growth in the year-ago period.

Mining output too fell 8 per cent in the month under review as against 7.3 per cent growth in the corresponding period last fiscal.