Summary Box: India posts weak industrial output

AP News
Posted: Apr 12, 2012 2:10 PM
Summary Box: India posts weak industrial output

SLOWING GROWTH: India sharply downgraded January industrial production figures Thursday and said output grew a disappointing 4.1 percent in February, adding to pressure on the central bank to cut interest rates next week.

BELOW EXPECTATIONS: The government said January industrial output grew just 1.1 percent over the year before, well below its initial estimate of 6.8 percent growth. February's numbers widely missed the expected 6.5 percent growth.

THE DETAILS: Overall capital goods production _ a sign of investment activity _ rose 10.6 percent, masking a sharp fall in production of machinery and equipment, which was down 9.4 percent.