India’s industrial output shrunk by 5.1% in October after witnessing a sustained slowdown over the past few months, led by a steep fall in production of almost sectors, particularly manufacturing, mining and capital goods.

Factory output, as measured by the Index of Industrial Production (IIP), had grown by 11.3% in October last year.

As per data released by the government today, industrial output grew by 3.5% in the April-October period this fiscal, as against 8.7% in the same period last year.

Output of the manufacturing sector, which constitutes over 75% of the index, declined by 6% in October, compared to a growth of 12.3% in the same month of 2010.

In addition, mining output declined by 7.2% in October this year, as against a growth of 6.1% in October last year.

Production of capital goods fell sharply by 25.5% in the month under review. The segment had grown by 21.1% in the corresponding month of 2010.

Output of consumer goods also fell by 0.8% during the month under review, as against a growth of 9.3% in the corresponding month of 2010.

Furthermore, consumer durables production declined by 0.3%, compared to a growth of 14.2% in October last year.

During the month under review, output of consumer non-durables fell by 1.3%. The segment had expanded by 5% in October last year.

Source: Business Standard

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