Exports dive 15% in July, sharpest slide in 3 years

 There seems to be no end to bad news on the economic front with exports declining 14.8% in July to $22.4 billion, the sharpest contraction in three years, in the wake of falling demand from Europe and the US. With imports too declining by almost 8% during July, the slowdown in the domestic industry seems to be pronounced as companies seem to be importing less raw material and capital goods for production. Industrial output fell nearly 2% in June and there are little signs of demand having picked up.

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