India: Industrial output records largest decrease in two years in October
Industrial output declined 4.0% in October compared to the same month of the previous year, which contrasted with September’s 3.5% increase. The figure marked the worst reading since August 2020. Looking at the details of the release, manufacturing output decreased in October, while electricity and mining output grew at a slower rate.
Meanwhile, the trend pointed down, with the annual average growth of industrial production coming in at 3.7%, down from September’s 4.4%.