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CMIE revises forecast

MUMBAI DEC. 9. The Centre for Monitoring Indian Economy (CMIE) today revised upwards its industrial forecast for 2003-04 by one per cent to 5.5 per even as the food sector is expected to show a positive 3 per cent growth as against the earlier projection of a decline of 0.4 per cent.

"While industrial growth was driven by automobiles and metals sectors in the first half of the year, the growth is expected to broaden in the coming months," the leading economic think-tank said in a release here today.

The manufacturing sector was also expected to grow by 6 per cent as against the earlier estimate of 5 per cent.

On the food sector, it said sugar, edible oils and milk powder were expected to perform better than earlier estimates.

PTI

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