Industrial Production Rises Marginally To 3.2% In October From 3.1% In September
Industrial production rose to only 3.2% in October 2021, and government data showed on Friday, December 10, the result of the low-level impact subsided for the second straight month. The Indices of Industrial Production (IIP) in October was 133.7. The Industrial Production Index increased by 20% during the April / August period of the current budget, but decreased by 17.3% during the same period last year. According to industrial production data released today by the Bureau of Statistics and Program Implementation, the indexes for the mining, manufacturing and electricity sectors in October 2021 are 109.7, 134.7 and 167.3, respectively.
Industrial or factory production as measured by the Industrial Production Index fell from 4.5% in the same period last year to 3.2% in October. The
the manufacturing industry, which accounts for 77.63 percent of the industrial index, grew 2 percent in October, compared to 4.5 percent in the same period last year. Mining production increased by 11.4% compared to 1% degrowth in October 2020.
Production of capital goods, an investment barometer, recorded a 1.1% decline in growth in October compared to a 3.2% growth in October 2020. Durable goods recorded a 6.1% decrease in growth compared to 18.1% for the year. Same period last year.
“October industrial production slowed on a MoM and YoY basis, although other indicators show a recovery. October IIPs are 3.2 percent below monthly estimates for most seasons. This raises questions about the ongoing economic recovery.
Most elements have proven to-increase like electricity, manufacturing, infra items, purchaser durables, purchaser non-durables with mining and number one items the best exception. The chip scarcity has been a reason of challenge for the clean functioning of business sports throughout the globe.
The car region has visible maximum disruption. The H1 IIP at 20 consistent with cent is essentially an element of a decreasing base. The business facts want to clock in everyday double-digit increases for sustained average monetary increase,`’ stated Mr. Nish Bhatt, Founder & CEO, Millwood Kane International.
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