IIP data: Industrial activity grows 3.1% in Sept; manufacturing a drag

Growth in factory output recovered to a three-month high at 3.1 per cent in September as mining and electricity output grew at a robust pace even as global slowdown and elevated inflation dragged down growth in manufacturing output. This recovery comes after a surprise contraction in August.

Data released by the National Statistical Office (NSO) on Friday showed mining, manufacturing and electricity sectors grew at 4.6 per cent, 1.8 per cent and 11.6 per cent, respectively.

Compared to pre-Covid levels, the index of industrial production (IIP) reported a healthy 8.6 per cent expansion in September. It saw a rise in