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October IIP at 9.8%; consumer durables grow 42.2%

The index of industrial production (IIP) for October stood at 9.8 percent versus 3.6 percent (month-on-month).

Bouncing back from the four-month lows it touched in September, the index of industrial production (IIP) for October stood at 9.8 percent versus 3.6 percent (month-on-month).

The higher figure came on expected lines due to pre-festive ramp-up and growth in mining, electricity as well as the favourable base. Furthermore, the October IIP figure comes in conjunction with the November reading, which could see a pullback because of pre-festive season since this time Diwali came in the month of November unlike last year when it came in the month of October.

Furthermore, the government revised September IIP growth to 3.84 percent from 3.6 percent.
Breakup of the IIP number:

– Consumer Non-durables Output At 4.7% Vs -4.6% (MoM)
– Consumer Durables Output At 42.2% Vs 8.4% (MoM)
– Consumer Goods Output At 18.4% Vs 0.6% (MoM)
– Intermediate Goods Output At 6.7% Vs 2.1% (MoM)
– Capital Goods Output At 16.1% Vs 10.5% (MoM)
– Basic Goods Output At 4.1% Vs 4% (MoM)
– Electricity Sector Output At 9% Vs 11.4% (MoM)
– Manufacturing Sector Output At 10.6% Vs 2.6% (MoM)
– Mining Sector Output At 4.7% Vs 3% (MoM)

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