Factory production grows at six-month high of 5.2% in Nov

INDIA'S INDUSTRIAL OUTPUT in November expanded at 5.2%, the highest pace in six months, on the back of a sharp uptick in manufacturing, according to data released by the government on Friday.

- FE BUREAU

The manufacturing sector grew 5.8% in November aided by a low base of just 1.3%. In October, the sector, which carries the weight of 77.6% in the Index of Industrial Production (IIP), had grown 4.4%.

IIP indicators are in variance with the reading of the Purchasing Managers' Index (PMI) for November in which a small dip in manufacturing was recorded as compared to October.

The mining sector expanded 1.9% on year in November, up from 0.9% in October but significantly lower than 7% in the same month of 2023. The electricity output was up 4.4%, up from 2% in October and 5.8% in November of 2023.