“Indian industrial production unexpectedly contracted in March as weaker domestic demand and tumbling exports hurt the economy, undermining the central bank’s efforts to shore up a sliding rupee.
Production at factories, utilities and mines declined 3.5 percent from a year earlier, the Central Statistical Office said in a statement in New Delhi today, compared with a 4.1 percent increase in February. The median of 32 estimates in a Bloomberg News survey was for a 1.7 percent gain.”
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