InfoAnda - India industrial output surges in October

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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 Weekend Edition Singapore Asia Pacific World India industrial output surges in October AFP - Friday, December 10 Send IM Story Print India industrial output surges in October Slideshow: Full Photo Coverage: Business & Economy NEW DELHI (AFP) - – India's industrial output accelerated at its fastest rate in three months in October, spurred by a robust manufacturing sector as demand rose during the religious festival season, data showed Friday. Output from factories, mines and utilities leapt by 10.8 percent in October from a year earlier, according to the statistics office, surpassing financial market expectations of an 8.5 percent rise. The figures marked a strong pick-up from 4.4 percent year-on-year industrial output growth logged in September and came as many factories, especially in the auto sector, are straining to meet surging consumer demand. However, India's industrial production growth figures still lag neighbouring China, which registered a 13.1-percent year-on-year increase in October. The data was released days after India's government forecast economic growth for this fiscal year to March 31, 2011 could cross the nine percent mark. India, the fastest-expanding major economy after China, registered growth of 8.9 percent year-on-year in the July-September quarter. The healthy industrial output figures came despite a rapid unwinding of massive fiscal and monetary stimulus measures put in place in the aftermath of the global financial crisis. Analysts say the figures set the stage for another rise in interest rates as authorities struggle to control inflation. India's central bank has raised interest rates six times since January to tame price rises. The statistics office said manufacturing output, which has an 80 percent weighting in the industrial production index, climbed 11.3 percent from a year earlier compared with a 4.62 percent rise in September. Output of capital goods such as construction equipment and factory machinery soared 22.0 percent, while electricity output leapt 8.8 percent and mining output expanded 6.5 percent, For the first seven months of the financial year to October, industrial output grew 10.3 percent. India posted scorching average annual growth of 9.5 percent between 2006 and 2008 before the global slump slowed expansion to 6.7 percent in 2008-09. The economy picked up pace last year to expand by 7.4 percent. Recommend Send IM Story Print Related Articles Diageo in talks to buy Turkey's Mey Icki-sources Reuters - 25 minutes ago US-BUSINESS Summary Reuters - 29 minutes ago Consumer sentiment up more than expected Reuters - 29 minutes ago Instant view: Consumer sentiment jumps in December Reuters - 35 minutes ago GM to seek easing of executive pay restrictions Reuters - 36 minutes ago News Search Top Stories Pfizer pulls blood pressure drug due to fatal risk US trade deficit shrinks on exports surge Pole-dancing: world's latest craze OPEC lifts 2010 oil demand growth forecast Guarded optimism as climate talks enter night More Top Stories » Related Full Coverage China Economychina economy All Full Coverage » ADVERTISEMENT Most Popular Most Viewed Most Recommended Europe freezes as fresh snow causes travel chaos Obama 'disappointed' by military gay ban vote In blow to Obama, allies reject tax deal Ireland plans super-tax for bankers' bonuses Parmalat boss gets 18 years for 'Europe's Enron' More Most Viewed » NASA finds new form of life... on Earth World leaders scramble for funds to save the tiger US, S.Korea plan war games after N.Korean attack Defiant Obama defends tax cuts, eyes 2012 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 Weekend Edition 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 Entertainment Photos Yahoo! News Network 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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