Industrial production grows 9.8% year-on-year in October, a 5-year high

Zee Media Bureau

New Delhi: Showing sign of economic recovery, industrial output for the month of October grew 9.8 percent compared to the level in the same month the previous year, on the back of a strong production in mining, manufacturing and electricity.

This is the fastest growth in almost five years.

In October 2014, the industrial production had plunged to a 3-year low, contracting 4.2 percent.

However, as per a data released by the Central Statistics Office, the cumulative growth for the period April-October 2015-16 over the corresponding period of the previous year stands at 4.8 percent.

In the month of September, the industrial production growth had slowed to a four-month low of 3.6 percent.

The data released by the CSO showed that mining, manufacturing and electricity sectors for the month of October 2015 grew at the rates of 4.7 percent, 10.6 percent and 9.0 percent respectively as compared to October 2014.