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Slow industry growth a concern: RBI

A day after the factory output growth for the month of September was announced at 4.4%, the Reserve Bank of India expressed its concerns over the weak numbers as Subir Gokarn, its deputy governor, termed it as disconcerting.

business Updated: Nov 14, 2010 21:35 IST
HT Correspondent

A day after the factory output growth for the month of September was announced at 4.4%, the Reserve Bank of India expressed its concerns over the weak numbers as Subir Gokarn, its deputy governor, termed it as disconcerting.

"The IIP (index of industrial production) is suggesting somewhat of a deceleration, 5.5% in August and 4.4% in September. A lot of that deceleration is coming in from a sharp decline in capital goods, which, of course, must raise some concerns," said Gokarn while speaking at a function in Mumbai.

He also said that whether this deceleration reflects a slowdown in investment activities or weaker expectations of future growth, it is a matter of concern.