Industry grows by robust 10.3 per cent in October

Industry grew by a robust 10.3 per cent in October against a paltry 0.1 per cent a year ago, powered by manufacturing, particularly consumer durables, which was driven by the stimulus packages.


The strong industrial production data came days after better-than-expected economic growth of 7.9 per cent in the second quarter of this fiscal, reflecting that the economy would sustain the recovery provided agriculture does not slide too much.

An industrial rebound is catching fire on most accounts, and India's factory output, which showed 10.3 per cent year-on-year growth in October data released on Friday, indicates that the country is next only to China in the global growth game.

WHAT IS DRIVING GROWTH Manufacturing, which accounts for 80 per cent of overall industrial output, grew by 11.1 per cent, higher than the previous month's 10 per cent growth The consumer durables sector grew by a healthy 21 per cent, reflecting a sustained rise in spending on goods such as televisions and refrigerators. The sector has shown 20 per cent growth for four months running.

Replies

  • sarveshgupta
    sarveshgupta
    WHAT THE BOUNCE MEANS ECONOMY: Faster industrial growth would help overall economic growth despite a slump in agriculture following a drought this year.

    JOBS: Rebound means better chances of new jobs and better pay increases as companies push ahead with planned investments.

    INVESTORS: Investor sentiment is looking up after better data, as analysts expect higher returns on equities and other business investments.

    SERVICES: Higher factory output and resultant corporate incomes could raise demand for services as businesses grow.
  • safwan
    safwan
    Nice information Sarvesh.

You are reading an archived discussion.

Related Posts

hello all, i am getting a message that there are some sever viruses in my computer, the alerts are poping up again n again that u should register the additional...
What do you have to say about this?
CEans, Recently I received an email from a blog owner pointing out a directly copy-pasted article on CE from his blog. I request all members to refrain from copy pasting...
Discuss the announcement: https://www.crazyengineers.com/forum...fore-you-copy-paste-content-other-source.html in this thread.
Although the two have similarly thin and flat screens, the differences between the two are substantial. Plasma Plasma technology uses a rectangular array of gas plasma cells, with electrical voltages...