Economics
Surge in Manufacturing May Spur Rate Increase: India Credit
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India’s industrial production is likely to expand at the fastest pace in three months, prompting JPMorgan Chase & Co. to predict the central bank may resume raising interest rates as early as next month to curb inflation.
Factory, utilities and mines output probably rose 8.5 percent in October from a year earlier after a 4.4 percent increase in September, according to the median estimate of 29 economists in a Bloomberg survey before a statistics office report tomorrow. This week Finance Minister Pranab Mukherjee raised the government’s economic growth forecast for the current fiscal year to 9.1 percent, the most in three years.