World Economy

India Factory Production Up

India Factory Production UpIndia Factory Production Up

India’s industrial production grew by a stronger-than-expected 2.6% in January – signaling a boost in Asia’s third largest economy – but February retail inflation also inched up, government data showed, Industry Week reported. The 2.6% increase in production by Indian factories, mines and utilities in January from a year ago was higher than the 1.7% recorded in December and beat economists’ expectations. Analysts said it provided further evidence of an upturn in India’s economy, but cautioned that the rise in inflation would make it harder for the central bank to cut rates. Consumer inflation edged up for the third straight month to 5.37% in February from a year earlier and 5.11% in January, due to higher food prices triggered by unseasonal rains.