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India’s industrial production picks up in March

Manufacturing growth of 3.2% led the improvement.


May 10, 2013
by The Canadian Press

MUMBAI, India – India says its industrial production for March grew at a faster pace after a slowdown the previous month.

The new figures offered some good news for Asia’s third-largest economy amid worries over stalling economic growth.

The country’s statistics office said Friday that March industrial output was 2.5% higher than a year earlier. It grew 0.6% in February.

Manufacturing growth of 3.2% led the improvement.

But growth in industrial production for India’s fiscal year that ended March 31 was just 1%, reflecting the broader economic slowdown.

The government has forecast economic growth of 5% for the fiscal year, the lowest in a decade.

©The Canadian Press