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Economy: Industrial output is 10.3% in Oct.
Posted On: 12-12-2009 00:00:00 09

As per data released by the Govt., India's factory output showed a 10.3% year-on-year growth in October. Manufacturing, which accounts for 80% of overall industrial output, grew by 11.1%, higher than the previous month's 10% growth. The consumer durables sector grew by a healthy 21%, reflecting a sustained rise in spending on goods such as televisions and refrigerators. The sector has shown 20% growth for four months running. Output of capital goods, which represent machines and equipment used in industry, grew by 12.2% in October on the back of a 13% growth recorded in Sept. Faster industrial growth would help overall economic growth despite a slump in agriculture following a drought this year. This is expected to lead to increased job opportunities and better salary increments as companies push ahead with planned investments.

 
 
 

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