After a slump in August, India's industrial output rebounded in September led by a surge in manufacturing and a modest pick up in mining and electricity generation.
The Index of Industrial Production grew by 3.1% as compared to a contraction of 0.1% in August, according to data published by the Ministry of Statistics and Programme Implementation on Tuesday.
The three main sectors—mining, manufacturing and electricity—logged a growth of 0.2%, 3.9% and 0.5%, respectively, in September.
Also Read | Layoffs Are Rising In Tech, But These Skills Are Helping People Unlock Better Pay
Within the manufacturing sector, top three positive contributors for the month are coke and refined petroleum products, whose output grew by 5.3%, followed by base metals which are up by 2.5% and electrical equipment production jumped by 18.7%.
The uptick in IIP comes in the backdrop of India's core sector output also rebounding in September. The combined index of eight core industries rose by 2% in September, according to data released by the Ministry of Commerce & Industry on Oct. 30. This compares to a contraction of 1.6% in August, which had marked the first decline in 42 months.
IIP Sectoral Estimates (YoY)
Mining output rose by 0.2%.
Manufacturing output grew by 3.9%.
Electricity generation rose by 0.5%.
Industrial output, as classified by the end use of goods, showed:
Primary goods output rose by 1.8%.
Capital goods output increased by 2.8%.
Intermediate goods output grew by 4.2%.
Infrastructure and construction goods output gained 3.3%.
Consumer durables output rose by 6.5%.
The recovery in India's industrial output comes a month after the IIP turned negative, marking the first slump in 22 months. The deceleration in August was driven by a decline of 4.3% in manufacturing output, and a 3.7% fall in electricity generation.
The output of primary goods, consumer durables and intermediate goods had dropped by 2.6%, 5.2% and 3%, respectively, in August.
Essential Business Intelligence, Sharp Market Insights, Practical Personal Finance Advice, Daily Fuel, Gold and Silver Prices and Latest Stories — On NDTV Profit.
