Industrial output grows at 3-month high of 2.5% in Sept

Showing signs of recovery, industrial production grew at three-month high of 2.5% in September, mainly on account of better mining and manufacturing output and larger offtake of capital goods.

The factory output, as measured by the Index of Industrial Production (IIP), grew at 2.7% in the same month last year.

For August, it was revised to 0.48% from the provisional estimates of 0.42% released last month, according to the data released by the Central Statistics Office today.

The industrial production expansion was 4.3% in June and 0.4% in July this year.

During the April-September period, IIP rose by 2.8%, as against 0.5% in same period in the previous fiscal.

Manufacturing output, which constitutes over 75% of the index, grew by 2.5% in September, compared to 1.4% in the same month a year ago.

For April-September, the sector saw an output growth of 2%, compared to 0.2% in the year-ago period.

The mining sector production grew by 0.7% in September as against of 3.6% a year ago.

During April-September, the growth was by 2.1% as against a contraction of 2.5% in the same period last fiscal.

The production of capital goods, a barometer of demand, grew by 11.6% in September, against 6.6% decline in same month of last year.

During April-September period, the output of capital goods grew by 5.8% as against a dip in production by 0.6%.

Overall, 15 of the 22 industry groups in manufacturing showed positive growth in September.