Industrial Growth Surges To 5.2% In November, Manufacturing Leads The Recovery
Date
1/11/2025 2:15:10 PM
(MENAFN- KNN India)
New Delhi, Jan 11 (KNN)
India's industrial production recorded its strongest performance in six months this November, with manufacturing leading the expansion amid favorable base effects.
According to data released by the National Statistical Office on Friday, the index of Industrial Production grew by 5.2 percent, surpassing October's upwardly revised 3.7 percent and the previous November's 2.5 percent.
The manufacturing sector demonstrated remarkable resilience, posting a 5.8 percent increase in November, significantly higher than both the 1.3 percent recorded in the same month last year and October's 4.4 percent growth.
Investment activity showed promising signs, with the capital goods sector expanding by 9 percent, reversing the 1.1 percent contraction seen in November last year.
Consumer durables experienced robust growth of 13.1 percent, driven by festive season demand, marking a substantial improvement from the 4.8 percent decline in November 2023.
However, the recovery pattern remained uneven, with consumer non-durables showing modest growth of 0.6 percent, though this still represented an improvement from the 3.4 percent contraction witnessed in the previous year.
Rajani Sinha, Chief Economist, CareEdge ratings agency, noted that while the broad-based improvement across manufacturing, electricity, and mining sectors was encouraging, particularly following August 2024's temporary slowdown, the mixed signals in consumption patterns warrant attention.
She emphasised that a more comprehensive improvement in consumption remains crucial for sustained economic growth.
(KNN Bureau)
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