NEW DELHI (AP) — Industrial production in India soared 8.2 percent in October, a sharp spike for Asia's third-largest economy, but the country's main industry organization is viewing the data with some caution.
The data released Wednesday by India's Central Statistics Office shows that the manufacturing sector rose 9.6 percent and electricity output increased 5.5 percent from the year before.
Production of capital goods — a sign of investment in physical assets such as machinery — grew 7.5 percent.
Finance Minister P. Chidambaram said he was "encouraged" by the data
The Confederation of India Industries said the figures were better than expected, but cautioned that it was too early to talk about an economic revival.
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