IIP growth slips to 4.5% ; retail inflation eases |
Within the CPI, inflation in the food and beverages segment contracted 0.14% in October compared with a growth of 1.01% in September. Growth in industrial activity as measured by the Index of Industrial Production slowed marginally in September to 4.5% due to slowing growth in the manufacturing and capital goods sectors, official data showed. A separate data release also showed that consumer inflation, as measured by the Consumer Price Index, eased in October to 3.31% due to slowing price growth in the food, housing, and footwear segments. Growth in the IIP slowed from 4.67% in August. Within the index, growth in the manufacturing sector slowed to 4.62% in September from 5.08% in August. Activity in the mining and quarrying sector witnessed an acceleration, growing at 0.21% in September compared with a contraction of 0.54% in the previous month. The overall production and manufacturing indices show a rise in absolute terms indicating that domestic demand likely remains resilient,Anis Chakravarty, Lead Economist & Partner at Deloitte India said. Growth in the electricity sector touched 8.24% in September, up from 7.59% in the previous month. The capital goods sector, however, saw growth slowing to 5.76% from 9.34% over the same period.
|
|
|
|