Tuesday, May 12, 2009

India's March industrial output (IIP data) down 2.3 pct y/y

By Reuters

India's industrial output fell a steeper-than-expected 2.3 percent in March from a year earlier, its third fall in four months, data showed on Tuesday.

The figure was sharply lower than a forecast for an annual decline of 0.5 percent in a Reuters poll of economists.

Manufacturing production fell 3.3 percent in March from a year earlier.

Industrial output rose 2.4 percent in the 2008/09 fiscal year (April-March), down from a revised 8.5 percent in 2007/08.

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