Black Friday for Indian economy

May 08 Overall
Apr-May 
07-08 Overall 
Apr-May
08-09 Mining3.85.23.25.6 Manufacturing11.33.911.85.3 Electricity9.4291.7 Overall10.63.810.95 Source: CSO                                                                                 (in % growth)          "The sharp deceleration in production growth raises concerns over manufacturing outlook for the second half of 2008," said Moody's Economy.com economist Sherman Chan.   The provisional wholesale price index-based annual inflation rate rose to 11.89 per cent for the week ended June 28, driven mainly by an increase in prices of fruit and vegetables, pulses, edible oils, textiles, fertilisers and chemical products.

"There is upward pressure on the index itself. The second round impact of the recent fuel price increase effective from June 5 is pushing prices of food items up. This is not only the base effect at work. I expect inflation to average 10 per cent this year," said Dharmakirti Joshi, principal economist, Crisil.

"Everywhere you look