"The latest October IIP is very good. It's a high number, good number and encouraging number. But one has to be a little bit careful in interpreting this number, especially this month as there is a Diwali effect," chief economic advisor Arvind Subramanian told reporters here.
Buoyed by demand in consumer products and capital goods during the festive season, industrial output in October grew at 9.8 percent, its fastest pace in five years.
The cumulative IIP growth for April-October 2015-2016 over the corresponding period last year stands at 4.8 percent.
"Good number, hope this continues, but one shouldn't read too much into month to month number," Subramanian said.
IIP growth for September has been revised upwards to 3.84 percent while it was 2.7 percent in October 2014.

Also read:
Industrial production grows at 6.4 percent in August

Latest News from Sports News Desk