The Straits Times
Published on Nov 12, 2012

Indian industrial output shrinks surprise 0.4% in September


NEW DELHI (AFP) - India's industrial output shrank by a surprise 0.4 per cent in September from a year earlier, data showed on Monday, adding to gloom about the South Asian nation's economic growth prospects.

The economy has been hit by a combination of high interest rates, Europe's debt crisis that has slowed exports, and sluggish investment caused by domestic and overseas concerns about policy paralysis.