Indian factory output surges 8.2%

<p>India’s factory output has surged by 8.2 per cent on the year.</p>

India's factory output rose by more than anticipated in October thanks to increased demand during the festive season to the subcontinental country.

This figure climbed by 8.2 per cent year on year, when most analysts had projected a rise of just 4.5 per cent.

Manufacturing activity accounts for nearly two-thirds of the country's overall economic output and it climbed by 9.6 per cent from a year ago.

However, these positive figures may not completely ease worries of a slowdown, as the data has been helped along by a lower reading a year earlier, when production contracted by five per cent on the year.

Nevertheless, October's factory and mining output showed the strongest growth since June 2011, after the index of industrial production growth spent most of the year near zero per cent.

At 08:50 GMT, the Mumbai Sensex retreated by 0.2 per cent to an index value of 19338.3 points, a fall of 48.7 points.

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