India's industrial output contracted in October, dragged down by a decline in mining, manufacturing and capital goods sectors and the key segments are expected to remain under strain in the months ahead due to the impact of demonetisation on business sentiment.
Industrial output fell 1.9% in October compared to an expansion of 9.9% in the same month last year. It revived to 0.7% in September after two consecutive months' of decline.
The manufacturing sector fell 2.4% in October compared to an expansion of 10.6%. while output in the mining sector declined 1.1% compared to a growth of 5.3% in October 2015. The capital goods sector, a key gauge of industrial activity , contracted 25.9% in October compared to an expansion of 16.5% in the year earlier month. The sector has displayed extreme volatility and economists have raised doubts about the data.
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