Economy grew 4.5 percent in December quarter
NEW DELHI (Reuters) - India's economy grew at a worse-than-expected 4.5 percent in the quarter ending December 31, hurt by a slowdown in agriculture, mining and manufacturing, government data showed on Thursday.
Analysts polled by Reuters had forecast growth of 5 percent. The country's economy grew at a lower-than-expected 5.3 percent in the quarter ending in September.
The Indian economy has lost momentum in recent years. Preliminary estimates earlier this month showed the economy is on track to grow just 5 percent in the current fiscal year to March.
The manufacturing sector grew an annual 2.5 percent during the quarter while farm output rose just 1.1 percent, the data showed. Mining fell by 1.4 percent.
(Reporting by Arup Roychoudhury; Editing by Tony Munroe)
- Tweet this
- Share this
- Digg this
Trending On Reuters
India's second-biggest lender by assets booked a 69 percent fall in quarterly profit on Friday, due to higher provisions for bad loans and a surge in tax expenses. Full Article