Slow manufacturing pulls down IIP to 7.1 pc

New Delhi, Sep 24 2007 : The slump in the growth in India"s manufacturing sector is attributed to higher interest rates, which has forced consumers to cut spending on household items and automobiles, adversely affecting the manufacturing sector.

The output of consumer durables such as refrigerators and television sets also fell 3.2 per cent against a growth of 16.1 per cent in July 2006.

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