Industrial output fell 4.3 percent in September, the biggest decline in eight years

IIP-based industrial production increased 4.6 percent in September, 2018

Industrial output declined in September due to poor performance in the manufacturing, mining and electricity sectors.

(PTI) New Delhi, Ta. November 11, 2019, Monday

Industrial output declined 4.3 percent in September, indicating a slowdown in the economy. Which is the biggest decline of the last eight years. Industrial output declined in September due to poor performance in the manufacturing, mining and electricity sectors.

According to Central Statistics Office (CSO) data, September saw the biggest decline in industrial production in the last eight years. It may be recalled that in August 2019, IIP-based industrial production declined by 1.4 percent.

The Index of Industrial Production (IIP) based industrial production rose 4.6 percent in September 2018. Manufacturing sector output declined by 3.9 per cent in September. Industrial production grew by 4.8 per cent in September last year.

Electricity generation declined by 2.6 per cent in September 2019. The sector witnessed growth of 8.2 per cent in the year-ago period. The mining sector also witnessed a decline of 8.5 per cent in September 2019. Capital goods sector also saw a decline of 20.7%. It is worth mentioning that the capital goods sector witnessed a growth of 6.9 per cent in the same period a year ago.

Industrial output declined by five per cent in October, 2011. GDP is unlikely to grow even in the second quarter of FY 2019-20, as IIP-based industrial production declines in September 2019.

GDP figures for the second quarter of the fiscal year 2019-20, ie July to September, are likely to be released on November 29. Speaking of manufacturing sector, in September 2019, 17 out of 23 industrial groups showed negative growth.