Capital, consumer goods output under pressure as demand, investments slow

Segments are yet to recover from pre-covid period of 2019-20 when the economy started slowing down

Capital goods, consumer durables and nondurables bore the brunt of contraction in the index of industrial production (IIP) as output declined year-on-year and compared to the pre-covid period of 2019-20, signifying low demand and investments in the economy.

Overall manufacturing fell 5.6 per cent in October on a yearly basis, but it was up almost two per cent over October 2019-20. So, it is these three segments that are yet to recover from 2019-20 when the economy started slowing down.

Capital goods production declined 2.3 per cent in October year-on-year and almost one per cent compared to the same month