India’s industrial output expands by 3.5% in October 2024

The factory output growth measured in terms of the Index of Industrial Production (IIP) was at 3.1% in September 2024. In October last year, IIP growth stood at 11.9%.

According to the CNBC-TV18 poll of economists, the forecast IIP was estimated at 3.5% (MoM). Industrial output, or factory output, is the closest approximation for measuring the economic activity of the country’s business landscape.

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The data released by the National Statistical Office (NSO) showed that the manufacturing sector’s output grew 4.1% in October 2024 against 10.6% in the year-ago month.

Mining production rose 0.9% and power output increased 2% in October 2024. In the April-October period, the IIP grew 4% down from 7% in the year-ago period.