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News Summary: India's industrial production slows

The Associated Press

THE NEWS: India's industrial production rose at a slower pace in February, highlighting challenges to a recovery in Asia's third-largest economy and lending weight to arguments for the Reserve Bank of India to cut interest rates further to pump money into the economy. The central bank has already cut rates twice this year.

THE NUMBERS: The government said Friday that industrial output grew 0.6 percent over the same month the previous year after expanding 2.4 percent in January.

THE ANALYSIS: The report does not reflect any solid trend of economic expansion because most of the manufacturing growth was due to sharp spikes in small, volatile sectors, according to Barclay's Research.