News Summary: India March industrial output falls

AP News
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Posted: May 11, 2012 2:14 PM
News Summary: India March industrial output falls

FACTORY DECLINE: India's March industrial output fell 3.5 percent from a year ago because of weak manufacturing and investment.

DETAILS: Manufacturing activity fell 4.4 percent and capital goods production _ a sign of crucial investment activity _ plunged by 21 percent, burying hopes of a quick recovery for Asia's third-largest economy.

POLICY MOVES: The weak growth complicates matters for India's central bank, which faces enormous political pressure to stoke growth, despite persistent inflation and soaring deficits.