India’s Factory Output Rises, Adding to Rate Pressure
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India’s industrial production exceeded forecasts in July, adding to the case for the central bank to raise interest rates again as soon as next week.
Output at factories, utilities and mines rose 13.8 percent from a year earlier after a revised 5.8 percent increase in June, the statistics office said in a statement in New Delhi today. The jump surpassed all 24 forecasts in a Bloomberg News survey.