India's industrial production grew just 0.4% in October, a 14-month low that indicated a sharp slowdown in the economy.

The Index of Industrial Production (IIP) fell short of September's 4% growth and is even lower than the 3.1% expected by economists in a Reuters poll.

Domestic consumption improved across major consumer categories, after a goods and services tax cut took effect Sept. 22.

The Ministry of Statistics & Programme Implementation said the slow industrial production growth could be due to fewer number of working days because of a number of festivals including Dussehra and Deepawali. It is the lowest increase since August 2024.

Output in the manufacturing sector rose just 1.8% in October vs 4.8% in September, while mining activity and electricity production deteriorated 1

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