June quarter GDP growth at 4.4 percent - govt

NEW DELHI Fri Aug 30, 2013 5:41pm IST

Laboueres move handcarts loaded with goods under a flyover at a market in Mumbai August 30, 2013. REUTERS/Danish Siddiqui

Laboueres move handcarts loaded with goods under a flyover at a market in Mumbai August 30, 2013.

Credit: Reuters/Danish Siddiqui

NEW DELHI (Reuters) - India's economy grew at the slowest quarterly rate since the global financial crisis in the three months through June, lower than expected and hurt by a contraction in mining and manufacturing, government data showed on Friday.

Analysts polled by Reuters had forecast growth of 4.7 percent. June's figure of 4.4 percent was the slowest growth since the Jan-March quarter of 2009.

The economy has been steadily losing momentum in recent years. Economic growth virtually halved in two years to 5 percent in the fiscal year that ended in March -- the lowest level in a decade -- and most economists surveyed by Reuters in the past week expect 2013/14 to be worse.

Manufacturing fell an annual 1.2 percent during the quarter while mining fell by 2.8 percent, the data showed. while farm output rose 2.7 percent.

(Reporting by Rajesh Kumar Singh)

FILED UNDER:
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

  • Most Popular
  • Most Shared

Markets

REUTERS SHOWCASE

Segway in India

Segway in India

Segway’s India business pegs hope on tech-savvy Modi  Full Article 

Power Outage

Power Outage

Mumbai hit by power cuts  Full Article 

Commodities

Commodities

Gold imports, premiums to jump on festive demand - top refiner  Full Article 

Economic Worries

Economic Worries

Pakistan's promises to IMF in doubt as protests sap economy   Full Article 

Islamic Finance

Islamic Finance

Basel III deposit challenge looms over Islamic banks   Full Article 

Antitrust Probes

Antitrust Probes

U.S. business lobby says concerned China antitrust probes unfair.  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device.  Full Coverage