Industrial output shrank 7% in Oct, shows initial data

There is more disappointing news for the slowing Indian economy. According to initial estimates, the country's industrial output has declined by 7% in October, dragged down by a fall in the capital goods sector. This is the first time industrial output has entered negative territory since June 2009 and comes at a time when the economy is passing through a difficult period. The industrial sector has been under stress for the past few months, hit by rising interest rates, input costs and stubbornly high inflation.

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