India's industrial output shows negative growth in Oct

New Delhi: India's industrial output shrunk for the first time in many years to record a negative growth of 0.4 per cent in October, stifled by manufacturing sector.

Output had grown by 5.45 per cent in September, and 12.2 per cent in October 2007.

The Index for Industrial Production numbers for the seven-month period ended October was 4.1 per cent against 9.9 per cent a year ago.

Manufacturing sector, which accounts for 80 per cent of he index, declined 1.2 per cent from 13.8 per cent in the year-ago period.

Only earlier this month, the government sought to rescue manufacturers by announcing an across-the-board (barring petroleum goods) four per cent cut in excise duty.