Factory output grew by just 1.3% in January despite favourable base

Omicron-led lockdowns across the country reduced demand for goods and services

India’s industrial activity escaped relatively unscathed from the third wave of Covid-19 in January registering no change in output sequentially even as Omicron-led restrictions across the country reduced demand for goods and services. However, the index of industrial production (IIP) grew in the low single digit when compared to the same month a year ago, helped by a favourable base.
 

Data released by the National Statistical Office (NSO) on Friday showed the IIP on the year-on-year (YoY) basis picked up marginally to 1.3 per cent in January from 0.7 per cent in the preceding month as manufacturing output grew 1.1