Worst over for industrial output: Ahluwalia

Reuters
Posted: Friday, Jul 10, 2009 at 1504 hrs IST
Updated: Friday, Jul 10, 2009 at 1504 hrs IST

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New Delhi: The rise in industrial production is not a surprise and the worst is over, Ahluwalia said on Friday after stronger-than-expected output data.

Industrial output in May rose 2.7 percent from a year earlier, higher than a downwardly revised rise of 1.2 percent in April and bettering forecasts for a 1.4 percent rise, bolstering hopes activity in big emerging economies was picking up.

"We do believe that the worst is over, but there is a difference between the worst being over and getting back to robust growth," Montek Singh Ahluwalia, deputy chairman of the country's Planning Commission, told reporters. Ahluwalia said the recovery in monsoon rain was reducing economic concerns.

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Worst over for industrial output: Ahluwalia

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