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:

Economic Pulse

REUTERS SHOWCASE

Banking Sector

Banking Sector

India's laggard state lenders face tough sell on capital raising plan  Full Article 

Falling Oil Prices

Falling Oil Prices

Saudis signal no push for oil cut as market to "stabilise itself"  Full Article 

Raising Stake

Raising Stake

Nippon Life to raise stake in Reliance Capital fund unit  Full Article 

Sterilisation Camps

Sterilisation Camps

Sterilisation targets remain in all but name, critics say  Full Article 

Share Buyback

Share Buyback

Samsung Electronics to buy back $2 billion in shares  Full Article 

Bird Flu Scare

Bird Flu Scare

India orders culling after bird flu outbreaks in Kerala.  Full Article 

Microsoft in China

Microsoft in China

Microsoft to pay China $140 million for 'tax evasion'   Full Article 

Flashback: 26/11

Flashback: 26/11

The three-day attack in November 2008 left 166 dead.  Slideshow 

Reuters India Mobile

Reuters India Mobile

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