rediff.com

NewsApp (Free)

Read news as it happens
Download NewsApp

Available on  

Rediff News  All News 
Rediff.com  » Business » India's GDP growth at 4-year low in June quarter

India's GDP growth at 4-year low in June quarter

Last updated on: August 30, 2013 18:00 IST

India's GDP growth at 4-year low in June quarter

More
Rajesh Kumar Singh in New Delhi

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 per cent. June's figure of 4.4 per cent was the slowest growth since the Jan-March quarter of 2009.

The Indian economy has been steadily losing momentum in recent years. Economic growth virtually halved in two years to 5 per cent 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 per cent during the quarter while mining fell by 2.8 per cent, the data showed. while farm output rose 2.7 per cent.


Photographs: Reuters

Source:
© Copyright 2013 Reuters Limited. All rights reserved. Republication or redistribution of Reuters content, including by framing or similar means, is expressly prohibited without the prior written consent of Reuters. Reuters shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.