India's Oct industrial production tumbles 5.1%

The Index of Industrial Production (IIP) for the month of October contracted to 5.1% versus a growth of 1.9% in September. IIP was dragged down by fall in capital goods, manufacturing and mining sector. During April-October, industrial production expanded 3.5 percent. The output had grown 7.8% in the 2010/11 fiscal year that ended in March, slower than 10.5% in the previous year.