“India’s industrial production grew at the fastest pace in more than a year in October and consumer- price inflation accelerated last month, reinforcing the case for the central bank to hold off on an interest-rate cut next week.
Output at factories, utilities and mines climbed 8.2 percent from a year earlier after a revised 0.7 percent decline in September, the Central Statistical Office said in a statement in New Delhitoday. The median of 34 estimates in a Bloomberg News survey was for a 5.1 percent gain. Consumer prices gained 9.9 percent in November from a year earlier, a report showed.
Prime Minister Manmohan Singh has opened the nation to more foreign investment in the past three months and stepped up efforts to pare a budget deficit to reinvigorate an economy beset by faltering domestic spending and exports. The government plans to announce measures to boost overseas sales this week after shipments fell for a seventh month in November, while theReserve Bank of India has signaled it may reduce interest rates next quarter if inflation eases.”
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