India industrial output soaring

India's industrial production posted its highest growth in a decade this past week as inflation fell to a two-year low, leading analysts to forecast economic expansion of 7.5 to 8.0 percent this year. Annual industrial output grew by 11.7 percent in June, the fastest clip in nearly 10 years, as India's increasingly affluent consumers bought new cars, refrigerators and other manufactured goods. Industrial production grew by 7.3 percent in the same month a year earlier. The government has targeted growth of 7 percent for this fiscal year.