The manufacturing sector showed strength, as 18 of the 23 industry groups at the 2-digit NIC level experienced positive growth in comparison to October 2023. The total Quick Estimate of IIP for October 2024 was recorded at 149.9, marking a significant rise from 144.9 in October 2023.

The growth rate of the Index of Industrial Production (IIP) for October 2024 showed a slight rise to 3.5 percent, compared to 3.1 percent in September 2024.

The Ministry of Statistics & Programme Implementation indicates that sectoral analysis shows varied results. The Mining, Manufacturing, and Electricity sectors indicated growth rates of 0.9 percent, 4.1 percent, and 2.0 percent, respectively.

Among the manufacturing sub-sectors, significant contributors to growth comprised "Manufacture of basic metals" (3.5 percent), "Manufacture of electrical equipment" (33.1 percent), and "Manufacture of coke and refined petroleum products" (5.6 percent). The main factors in the basic metals sector included steel tubes and pipes, galvanized steel items, and mild steel rods and bars.

Likewise, within the electrical equipment sector, electric heaters, miniature transformers, and optical fiber connectors were identified as key contributors to growth. In the coke and refined petroleum sector, products like gasoline, aviation turbine fuel (ATF), and liquefied petroleum gas (LPG) were prominent.

The IIP growth, categorized by usage classifications, showed variation among different segments. Primary goods increased by 2.6 percent, capital goods by 3.1 percent, intermediate goods by 3.7 percent, and infrastructure/construction goods by 4.0 percent.