Indian factory output plunges

INDUSTRIAL output fell for the first time in more than two years in India in October as consumer demand waned, adding pressure on the central bank to ease monetary or liquidity conditions, possibly as soon as Friday.

Production at factories, mines and utilities plunged 5.1 per cent from a year earlier – the deepest drop since March 2009. September’s annual output was revised marginally upwards to 1.99 per cent.