India’s Trade Gap Narrows in Potential Rupee Boost; Output Falls
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India’s trade deficit narrowed for a second month in December, a trend that may improve the outlook for the nation’s currency even as industrial output fell after a holiday season skewed production.
The trade gap was $17.7 billion versus $19.3 billion in November, a month when output at factories, utilities and mines fell 0.1 percent from a year earlier, the government said in New Delhi today. Exports slid 1.9 percent compared with December 2011, while imports rose 6.3 percent.