News Roundup - 13 December 2014

1. The factory output, as measured by the Index of Industrial Production (IIP), contracted by 4.2 per cent in October, on account of de-growth in the manufacturing sector and poor demand for consumer goods. The factory output had declined by 1.2 per cent in October last year.
2. Declining for the fifth consecutive month, retail inflation dropped to 4.38 per cent in November, the lowest since the new series of data was introduced in January, 2012, on the back of high-base effect of last year and softening of prices of food items. The Consumer Price Index-based inflation or retail inflation stood at 5.52 per cent in October, while it was 11.16 per cent in November, 2013.
3. Ami Bera, the lone Indian-American serving in the Congress and his Republican colleague George Holding would be the new co-chairs of the powerful Congressional Caucus on India.

Credits: The Hindu, Google.