News: Factory growth shrinks 2.2% in June

#National

Factory growth shrinks 2.2% in June

There was grim news on the industrial output front but exports, which rose at their fastest pace in almost two years, provided some relief. However, high stubborn retail inflation sustained the pressure as policymakers battle a sharp slowdown, Times of India reported.

There was grim news on the industrial output front but exports, which rose at their fastest pace in almost two years, provided some relief. However, high stubborn retail inflation sustained the pressure as policymakers battle a sharp slowdown, Times of India reported.

Dismal industrial output growth numbers raised apprehension that the first quarter economic growth may fall short of the 5% mark, piling more pressure on the government to reverse the trend. The Indian economy slowed to a decade low of 5% in 2012-13 and the sustained slowdown has raised fears that growth may falter in the current fiscal as well.

Read the full report here

Topics: #National, C-Suite

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