September 17, 2012 / 10:13 AM / 5 years ago

Sri Lanka Q2 GDP growth moderates to 6.4 pct y/y

COLOMBO, Sept 17 (Reuters) - Sri Lanka’s economic growth eased to 6.4 percent in the second quarter from a year earlier as expansion in the service sector slowed, government data showed on Monday.

The economy had expanded by 7.9 percent in the first quarter on an annual basis.

The industrial sector grew 9.5 percent on-year in the April-June quarter, compared with a pace of 10.8 percent in Jan-March. Service sector growth moderated to 4.5 percent, from 5.8 percent in the previous three-month period.

Growth in the agricultural sector was 9.1 percent, data released by state-run Department of Census and Statistics showed.

According to a Reuters poll released earlier on Monday, Sri Lanka’s central bank is expected to keep interest rates steady for a fifth straight month on Tuesday despite high inflation to help bolster economic growth, which has been cooling due to the global slowdown, sweeping domestic policy measures and an extended drought. (Reporting by Ranga Sirilal and Shihar Aneez; Editing by Kim Coghill) (shihar.aneez@thomsonreuters.com; +94-11-232-5540; Reuters Messaging: shihar.aneez.thomsonreuters.com@reuters.net)

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