India's industrial production growth decelerates to 5.8% in September

India's industrial production growth decelerated to 5.8 per cent in September from 10.3 per cent in August, though on an annual basis, the output of manufacturing and mining sectors showed an improvement, according to the official data released on Friday.

The factory output growth measured in terms of the Index of Industrial Production (IIP) had grown by 3.3 per cent in September 2022.

During April-September 2023-24, the IIP growth works out to be 6 per cent, down from 7.1 per cent in the corresponding period a year ago.

"The growth rates over the corresponding period of the previous year are to be interpreted, considering the unusual circumstances on account of the COVID-19 pandemic since March 2020," an official statement said.

As per the IIP data released by the National Statistical Office (NSO), the manufacturing sector's output grew 4.5 per cent in September 2023 against a two per cent growth a year ago.

Power generation rose 9.9 per cent in September 2023 compared to 11.6 per cent growth in the year-ago period.

Mining output rose by 11.5 per cent in the month under review against a 5.2 per cent contraction a year ago.

As per use-based classification, the capital goods segment grew 7.4 per cent in September this year compared to 11.4 per cent growth in the year-ago month.

Consumer durables output during the month grew by one per cent against a contraction of 5.5 per cent.

Consumer non-durable goods output increased by 2.7 per cent compared to a contraction of 5.7 per cent a year earlier.

Infrastructure/construction goods posted a growth of 7.5 per cent against an 8.2 per cent expansion a year ago.

The data also showed that the output of primary goods logged 8 per cent growth in the month compared to 9.5 per cent in the year-ago period.

The intermediate goods output in September rose 5.8 per cent from 1.7 per cent growth during the corresponding month last year.