IIP grows 3.6% in Oct, touches 8-month high on consumer goods, electricity

Signalling an economic upsurge, India’s industrial activity touched an eight-month high in October, posting growth for a second straight month, led by significant expansion in consumer goods, electricity, and infrastructure goods, the official data showed on Friday. The revival was aided by festival season demand and a low base of last year, which may not be sustainable, cautioned economists.

The Index of Industrial Production (IIP) grew by 3.6 per cent in October on a year-on-year (YoY) basis compared to a 0.4 per cent expansion in the previous month, the data released by the National Statistical Office showed. The IIP had contracted