June quarter GDP growth at 4.4 percent - govt
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)
- Tweet this
- Share this
- Digg this
- Oil falls below $86 as oversupply, global economy worries weigh
- Indiana police charge suspect who may have killed for decades
- Total CEO de Margerie killed in Moscow business jet accident
- California woman gets stuck in chimney trying to sneak into home
- UPDATE 2-Texas investor Sam Wyly files for bankruptcy after losing SEC fraud case
India promised on Monday to open up the coal industry to private players and moved closer to selling a stake in a state-run oil company, as Prime Minister Narendra Modi picked up the pace on economic reform days after relaxing fuel price controls. Full Article
Total CEO de Margerie killed in Moscow plane accident - airport spokeswoman. Full Article