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Yahoo! My Yahoo! Mail More Yahoo! Services Account Options New User? Sign Up Sign In Help Yahoo! Search web search Home Singapore Asia Pacific World Business Entertainment Sports Technology Singapore Asia Pacific World India's industrial output up 13.5% AFP - Thursday, May 13 Send IM Story Print India's industrial output up 13.5% Slideshow: Full Photo Coverage: Business & Economy NEW DELHI (AFP) - – India's industrial output grew 13.5 percent in March, official data showed Wednesday, the seventh straight month of double-digit expansion. Factory output rose 14.3 percent, while production from mines increased 11 percent and utilities 7.7 percent from a year earlier, the data showed. The headline figure marked a further step in a slowing trend this year and was lower than the 15.0 percent forecast by analysts. "The month-on-month momentum was clearly decelerating and anyway you can't sustain 16-percent-plus levels of industrial growth, which were mainly because of a weak base," said D.K. Joshi, principal economist at ratings agency Crisil. The Indian economy slowed sharply at the beginning of last year due to the effects of the global financial crisis, which exaggerates the growth rate for this year when measured over 12 months. The readings for January and February showed expansion of 16.7 and 15.1 percent respectively. Analysts said industrial growth would gradually slow to 9.0-10.0 percent as interest rate hikes begin to bite and the government withdraws its stimulus measures introduced over the past two years. Last month, the central bank hiked key interest rates for the second time in a month as inflation, which is being driven by spiralling food prices, spills over into the wider economy. Indian consumer goods output, particularly hit by the global crisis, saw steady growth in March, expanding 10.6 percent. Production of capital goods, such as machinery, rose 27.4 percent. Analysts do not expect the Reserve Bank of India to hike rates again immediately. The inflation rate in March, as measured by the wholesale price index, rose to 9.90 percent from a year earlier. Annual inflation data for April is due on Friday. Recommend Send IM Story Print Related Articles Sprint says has long waiting list for new phone Reuters - 34 minutes ago US-BUSINESS Summary Reuters - 35 minutes ago Spain joins euro austerity drive, gold soars Reuters - 35 minutes ago Chile Collahuasi mine says declared force majeure Reuters - 35 minutes ago HSBC sees returns near 15 pct as headwinds linger Reuters - 42 minutes ago News Search Top Stories Boy survives as 103 killed in Libya plane crash US trade deficit biggest in more than two years Europe moves to curb future debt crises Greek unions call strike as economy halts decline Overtime linked to heart risk: study More Top Stories » Related Full Coverage China Economychina economy All Full Coverage » ADVERTISEMENT Most Popular Most Viewed Most Recommended Scientists stunned as grey whale sighted off Israel Cameron finally British PM after cliffhanger polls Earth may be too hot for humans by 2300: study UN fears 'irreversible' damage to natural environment Lack of sleep linked to early death: study More Most Viewed » Scientists stunned as grey whale sighted off Israel Aliens may exist but contact would hurt: Hawking Lack of sleep linked to early death: study UN fears 'irreversible' damage to natural environment Freddie Mac asks for fresh 10.6 billion dollar bailout More Most Recommended » Elsewhere on Yahoo! Financial news on Yahoo! Finance Stars and latest movies Best travel destinations More on Yahoo! News Home Singapore Asia Pacific World Business Entertainment Sports Technology Subscribe to our news feeds Top StoriesMy Yahoo!RSS » More news feeds | What are news feeds? Also on Yahoo Answers Groups Mail Messenger Mobile Travel Finance Movies Sports Games » All Yahoo! Services Site Highlights Singapore Full Coverage Most Popular Asia Entertainment Photos World Cup 2010 Copyright © 2010 Yahoo! Southeast Asia Pte. Ltd. (Co. Reg. No. 199700735D). All Rights Reserved. Terms of Service | Privacy Policy | Community | Intellectual Property Rights Policy | Help

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