Industrial production growth soars 8.2% in Oct, raises hopes of economic recovery

Another segment which performed well is consumer goods as its output registered double-digit growth of 13.2 per cent in October, as against a meagre 0.1 per cent growth year ago.

During April-October this fiscal, growth in the consumer goods segment remained flat at 4 per cent.

However, mining output in October contracted by 0.1 per cent, compared to a decline in production by 5.9 per cent in same month last year. The sector's production in April-October has declined by 0.7 per cent, as against contraction of 2.2 per cent in the year-ago period.

Overall, 17 of the 22 industry groups in manufacturing sector have shown positive growth in October, compared to the same month last year.

Consumer durables is another segment which showed smart recovery by registering a growth of 16.5 per cent in October, compared to contraction of 0.4 per cent a year ago.

The output of these goods registered a growth of 5.6 per cent during April-October, as against 4.5 per cent in the same period last fiscal.

The consumer non-durables output growth also remained in double digit at 10.1 per cent in October, as against a meagre 0.5 per cent growth in the same month last year. This segment grew by 2.7 per cent in the seven month period of this fiscal,

as against 3.6 per cent during April-October, 2011-12.

The basic goods growth also improved to 4.1 per cent in October, compared to 1.2 per cent a year ago. During the April -October period, this segment recorded

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