Industrial production in India down 5.1 per cent in October
12 Dec 2011
Industrial production in the country, which has been showing a declining trend over the past three months, fell into negative territory, growing at (-) 5.1 per cent year-on-year in October 2011 against a growth of 1.9 per cent in the previous month.
The general index of industrial production (base 2004-05=100) stood at 158.1 during October 2011, which was down 5.1 per cent compared to the level in October 2010, quick estimates released by the Central Statistical Office (CSO) showed.
Pulled down by a 7.2-per cent fall in mining output and a 6-per cent decline in manufacturing production, cumulative growth of industrial production in the country during April-October 2011-12 narrowed to 3.5 per cent compared to the corresponding period of the previous year.
Manufacturing accounts for 80 per cent of industrial production in India, Asia's third-largest economy.
Production indices for the mining, manufacturing and electricity sectors stood at 120.9, 165.9 and 152.1 respectively, during October 2011, with the corresponding growth rates of (-) 7.2 per cent, (-) 6.0 per cent and 5.6 per cent compared to October 2010.
Cumulative growth in the three sectors during April-October 2011-12 over the corresponding period of 2010-11 was (-) 2.2 per cent, 3.7 per cent and 8.9 per cent, respectively, which moved the overall growth in the general index to 3.5 per cent.
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