INDIA'S FACTORY OUTPUT, based on the Index of Industrial Production (IIP), grew at a three-month high of 3.5% in October, due to a broad-based pickup in output of all three sectors - manufacturing, mining, and electricity - amidst the festive season, official data released on Thursday showed.
The output of manufacturing and electricity grew by 4.1% and 2%, respectively, on a year-on-year basis in October. And that of mining grew marginally by 0.9%.
The growth rates of all three sectors were the highest in three months, the data showed.
Analysts say that manufacturing growth was supported by festive demand, as output of electricals and electronics, apparels, food products, and other transport equipment improved.
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