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
- U.S. nurse quarantined over Ebola calls treatment "frenzy of disorganization"
- Wall Street finally turning on Amazon as Bezos magic fades
- Google executive sets new stratosphere skydive world record
- Former Cream frontman Jack Bruce dies aged 71
- São Paulo running out of water as rain-making Amazon vanishes
The Nifty will stay in a broad band of 7,800-8,200 with an immediate resistance at around 8,050 levels. One should look to selectively accumulate in sectors such as infrastructure, capital goods, cement, power and metals. The outperforming sectors such as pharma, IT and auto ancillaries could take a breather due to international headwinds, writes Ambareesh Baliga. Full Article
Euro zone risks "relapse into recession" without structural reforms - Draghi. Full Article