GDP slows down to 5.3% in Jul-Sept

GDP slows down to 5.3% in Jul-Sept

Gross domestic product (GDP) has slowed down to 5.3 percent in July- September versus 5.5 percent in last quarter and 6.7 percent in corresponding quarter last fiscal. Poor performance of manufacturing and agriculture sectors pulled down growth in the second quarter.

The manufacturing sector grew an annual 0.8 per cent during the quarter while agriculture output rose 1.2 per cent. However, growth gross fixed capital formation was up 4% year-on-year. 

Mining and quarrying sector, however, showed some improvement and recorded a growth of 1.9 per cent during the quarter, as against a contraction of 5.4 per cent in the second quarter of 2011-12.

The economic growth in the first six month of this fiscal (April-September) is 5.4 per cent, lower than 7.3 per cent growth clocked in the year-ago period.

In the July-September quarter, trade, hotels, transport and communications segment also witnessed lower pace of growth at 5.5 per cent compared to 9.5 per cent expansion in the same quarter in year ago.

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