Industrial Production Data News (IIP): Government to release factory output data for October 2021: IIP at 3.2%
IIP data: Industrial production stands at 3.2% in October 2021
Industrial production rose slightly to 3.2% in October 2021, government data showed on Friday, December 10, as the underlying effect faded for the second month in a row. The index of industrial production (IIP) in October stood at 133.7. The index of industrial production for the April-August period of the current fiscal rose 20%, compared with a decline of 17.3% in the year-ago period.
The indexes for the mining, manufacturing and electricity sectors for October 2021 stood at 109.7, 134.7 and 167.3 respectively, according to industrial production data released by the Ministry of Statistics and Program Implementation. published today.
Industrial production – or factory output, as measured by the industrial production index, fell to 3.2% in October, from 4.5% in the same period last year.
The manufacturing sector, which accounts for 77.63% of the industrial production index, grew 2% in October, compared with 4.5% in the same period a year ago. Mining production increased by 11.4%, compared with a decrease of 1% in October 2020.
Capital goods output, a measure of investment, recorded a 1.1% decline in October, compared with an increase of 3.2% in October 2020. Luxury consumer goods recorded a decline. 6.1%, compared with 18.1% growth in the same period last year.
“October industrial production slowed month-on-month and year-on-year, although other indicators suggest a recovery. October IIP came in at 3.2% lower than most estimates. Growth in the IIP is erratic and is slowing down even though October is the festive season. This raises some doubts about the economic recovery being underway.
Most components show a slowdown in growth such as electricity, manufacturing, infrastructure goods, consumer durables, non-durable consumables with mining and primary goods being the only exceptions. Best. Chip shortages are a cause for concern for the smooth running of industrial operations globally.
The automotive sector has seen the most disruption. An IIP H1 at 20% is largely a factor of the lower base. Nish Bhatt, Founder and CEO, Millwood Kane International, said: “
