December 12, 2012 12:55 PM

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Industrial production growth rate bounces back to 16-month high of 8.2% in Oct

Industrial production growth rate bounced back to a 16-month high of 8.2 per cent in October on good performance of the manufacturing, power sector and higher output of capital as well as consumer goods, indicating sudden recovery in the economy.The factory output, as measured by the Index of Industrial Production (IIP), contracted by 5 per cent in October last year. The IIP had expanded by 9.5 per cent in June 2011.According to the official data released in the National Capital today, Industrial output growth in the April-October period this fiscal, however, was 1.2 per cent, less than 3.6 per cent in the same period in 2011-12. Meanwhile, the contraction in the industrial production during September this year was revised downward to 0.7 per cent per cent from earlier provisional estimates of 0.4 per cent released last month. The manufacturing sector, which constitutes over 75 per cent of the index, grew by robust 9.6 per cent in October, as against a contraction of 6 per cent in same month last year. However, the output of the key sector remained low at one per cent in April-October this year as against 3.8 per cent growth in the same period in 2011-12.

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