facebook
twitter
rss
account
search
search
 

India industry output growth slows in April

June 12, 2013 at 7:41 AM   |   Comments

NEW DELHI, June 12 (UPI) -- India's industrial output grew 2 percent in April from the same month of last year, slower than in March, government data showed Wednesday.

The Central Statistics Office said on its website the general index for April was 167.3.

Manufacturing, a major component in the index, grew 2.8 percent from a year earlier, and capital goods production grew an annual 1 percent.

The Wall Street Journal said April's figures would raise new concerns about the strength of the Indian economy. It said the growth was below the median forecast of 2.4 percent among 18 economists.

In March, the growth was 3.4 percent year-on-year, revised from earlier estimate of 2.5 percent.

The Indian government already is under pressure because the economy grew only 5 percent in the past fiscal year, the slowest rate in a decade. Growing current account deficits and other factors pushed the value of the Indian rupee to record lows against the U.S. dollar this week, with some improvement seen on Wednesday.

© 2013 United Press International, Inc. All Rights Reserved. Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.
Most Popular
1
Tesla could face sales ban in Michigan Tesla could face sales ban in Michigan
2
Early completion of refit of Italian aircraft carrier Early completion of refit of Italian aircraft carrier
3
British Reaper UAVs join the fight against Islamic State British Reaper UAVs join the fight against Islamic State
4
API: U.S. leverage hurt by oil export ban API: U.S. leverage hurt by oil export ban
5
Official: Iran's economy too vulnerable to oil market Official: Iran's economy too vulnerable to oil market
Trending News
Around the Web
x
Feedback