New Delhi– India’s factory output contracted by (-)1.92 per cent in October from a marginal rise of 0.67 per cent in September and a 9.9 per cent jump in the corresponding month of last year, official data showed on Friday.
As per the data on Index of Industrial Production (IIP) released by the Central Statistics Office (CSO), the decline was mainly on account of a (-)2.4 per cent drop in manufacturing output, which has the maximum weight in the overall index.
Among the other two major sub-indices, mining slipped by (-)1.1 per cent, whereas electricity generation inched up by 1.1 per cent.
The cumulative growth of the country’s factory output fell by (-)0.3 per cent in the first seven months of the current fiscal.
