Fitch brings relief to economy, industrial output slumps to 2%
Global rating agency Fitch Ratings offered India relief from a flood of bad tidings—a depreciating rupee, weak factory output data and sticky retail inflation—by upgrading the country’s sovereign credit outlook to stable from negative, Mint reported.
Global rating agency Fitch Ratings offered India relief from a flood of bad tidings—a depreciating rupee, weak factory output data and sticky retail inflation—by upgrading the country’s sovereign credit outlook to stable from negative, Mint reported.
The upgrade came on a day the Central Statistics Office (CSO) released data showing a continued contraction in mining output and almost flat electricity production, which limited factory output growth to 2% in April compared with a revised growth of 3.4% in the previous month.
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