Industrial output at 2-year high of 6.7%; mfg rebounds

INDUSTRIAL output surged to a 25-month high of 6.7% year-on-year in November, rebounding sharply from 0.5% growth in October, driven primarily by an 8% expansion in manufacturing, official data showed.

- ENS ECONOMIC BUREAU @New Delhi

The impact of GST rate rationalisation was visible in the consumer goods segment, which recorded an 8.5% growth during the month as against a contraction of 3.5% in October. Strong merchandise exports also supported the overall uptick in industrial activity.

Within manufacturing, output of basic metals and fabricated metal products, pharmaceuticals, and motor vehicles saw robust growth. Mining output rose 5.4% in November, up from 1.9% in the previous month. Industrial activity had slowed in October due to the festive season. Electricity generation showed signs of recovery in November, with the contraction narrowing to 1.5% from 6.9% a month earlier.