Industrial growth rocketed to a five-year high in October, riding a festive season-led boom in purchases of consumer goods, providing evidence that the economy may finally be picking up pace, although part of the spurt is due to a favourable base effect.
As measured by the Index of Industrial Production (IIP), output surged 9.8 per cent in October, data released by the statistics office on Friday showed, the fastest since October 2010 and much higher than the upwardly revised 3.8 per cent in September and the expectation of around 7.5 per cent.
The high industrial growth marks a strong start to the third quarter after data released last month showed the economy expanded 7.4 per cent in the July-September period, an improvement over 7 per cent reported in the first quarter.
As measured by the Index of Industrial Production (IIP), output surged 9.8 per cent in October, data released by the statistics office on Friday showed, the fastest since October 2010 and much higher than the upwardly revised 3.8 per cent in September and the expectation of around 7.5 per cent.
The high industrial growth marks a strong start to the third quarter after data released last month showed the economy expanded 7.4 per cent in the July-September period, an improvement over 7 per cent reported in the first quarter.
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http://economictimes.indiatimes.com/articleshow/50139454.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst
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