News Summary: India industrial output up 8.2 pct
THE DATA: Industrial production in India rose 8.2 percent in October. Manufacturing rose 9.6 percent; electricity output increased 5.5 percent; and production of capital goods — a sign of investment in physical assets such as machinery — grew 7.5 percent.
CAUTION: The Confederation of Indian Industries said the figures were better than expected, but it was too early to talk about an economic revival.
THE BACKGROUND: India is struggling with high inflation and interest rates, a wide fiscal deficit, a weak currency, and an uncertain policy environment, which have hurt consumer spending and business investment.