percent against the dollar this year and export woes. percent decline to . in the last survey. It was down percent from the July to September period a year earlier. A lower reading on the zero to scale means greater pessimism. The findings followed data last week showing economic growth slowed to . Analysts have forecast between . percent and nine percent growth in this fiscal year to March after the economy expanded by . percent last year its fastest in nearly two decades. But some analysts say growth could slow to seven percent next year. Even growth of seven . percent is very good when you look at growth in the West of two or . The government said last week it would miss its annual export target due to the rupee s appreciation. Thousands of employees in the textile sector have already been laid off due to falling orders. The central bank must ease the monetary policy. and efforts should be made to prevent any further appreciation of the rupee. Fai! lure on any one of these counts would send the industry into a downward spiral Khanna said. We certainly don t buy the idea our economy has decoupled from the US and the subprime crisis. Whatever happens in the US economy is bound to have an effect Khanna said. Save s No obligation. com Refinance and Save S Mortgage for month. Compare up to free quotes.
Source: http://news.yahoo.com/s/afp/20071205/wl_sthasia_afp/indiaeconomybusiness_071205153933
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