The country’s industrial output grew at its fastest pace in seven months at 4.5 per cent in February — the signs of recovery having little value now with Covid-19 turning the economy upside-down and throwing the nation into the clutches of recession.

Economists said the numbers no longer capture the economic conditions since the 21-day nationwide lockdown has impaired industrial activity as well as the services sector where the Purchasing Managers’ Index has shown a contraction in services in March.

Factory output, as measured in terms of the Index of Industrial Production (IIP), had recorded a growth of 0.2 per cent in February 2019. It had registered a growth of 4.9 per cent in July 2019.

According to a data by the National Statistical Office, the manufacturing sector output grew at a rate of 3.2 per cent in February compared with a contraction of 0.3 per cent in the same month a year ago.

Aditi Nayar, principal economist, Icra, said “industrial growth recorded a broad-based and sharper-than-expected pick-up to a seven-month high 4.5 per cent in February 2020, suggesting that some parts of the economy were on the path of a gradual revival prior to the escalation of the Covid-19 outbreak.

“However, the solace provided by this is hollow, as social distancing and lockdowns are likely to result in a considerable industrial contraction in March 2020, which would likely intensify in April 2020.”

Madan Sabnavis, chief economist, Care Rating, said, “The benefit of a low base year has pushed up this number. The thrust has come from mining and electricity and less from manufacturing.”