There are signs of economic trouble in two pillars of the developing world as a there are signal that the global slowdown has caught up to what were among the most robust countries. Industrial output fell 1.5% in India in March. China’s factory production rose only 9.3% in April, the National Bureau of Statistics reported.
Either demand for China’s exports has cooled because of problems in Europe, or internal demand for goods has dropped. Worse, both factors could have been contributions. Most forecasts of global growth in 2012 assumed strength in the two nations. That hope can no longer be counted on.
Douglas A. McIntyre