Industrial Output slumps 5.1% in October
India’s industrial output in the month of October declined to a negative 5.1 percent versus a revised 2% growth in September, indicating a severe slowdown in the country’s growth trajectory. It is the first time since June 2009 that the industrial output has fallen to the negative zone. October capital goods growth contracted to -25% as compared to -6.8% in September. Electricity growth was at 5.6% as compared to 9% in September. Manufacturing contracted at -6% vs 2.1% in September, whereas, mining was at -7.2% as compared to -5.6% in September.
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