Friday 28 February 2014

GDP disappoints with 4.7 pct growth in Dec quarter

fabrics_knitted_160033170366(Reuters) - India's economy grew a slower-than-expected 4.7 percent in the three months through December, dragged down by a contraction in manufacturing and mining, the last GDP data released by the government before a general election showed on Friday.

Analysts polled by Reuters had forecast growth of 4.9 percent. December's figure was the seventh successive quarter of economic growth below 5 percent.

Manufacturing contracted an annual 1.9 percent during the quarter compared with 1 percent growth in the previous quarter, while mining shrunk by 1.6 percent, the data showed. Annual farm output growth also slowed to 3.6 percent in October-December period, from 4.6 percent in the previous quarter. Source :   http://in.reuters.com/article/2014/02/28/india-gdp-idINDEEA1R09H20140228

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