The industrial production growth eased to 3.5 per cent year-on-year in October 2024, hampered by weaker performances in mining, power and manufacturing sectors, according to government data released on Thursday.

The Index of Industrial Production (IIP) had expanded 11.9 per cent in October 2023, reflecting a significant slowdown.

However, on a sequential basis, industrial output showed slight improvement, rising from 3.1 per cent in September and recovering from a 0.1 per cent contraction in August 2024.

For the April-October period, IIP growth stood at 4 per cent compared with 7 per cent in the same period last year.

Sectorally, mining output saw a sharp deceleration, growing just 0.9 per cent in October 2024 compared with a robust 13.1 per cent expansion in the same month a year earlier.

Similarly, the manufacturing sector registered a growth of 4.1 per cent, down from 10.6 per cent in October 2023.

Power generation output rose only 2 per cent compared with a 20.4 per cent surge a year ago.

The capital goods segment grew 3.1 per cent in October, a sharp drop from the 21.7 per cent growth recorded in the same period last year.