Indian GDP Grows Below Expectations


In the fourth quarter of 2013, Indian economic growth slowed to 4.7 percent over a year earlier, down from a 4.8 percent expansion in the previous period, hurt by a contraction in manufacturing and mining output.

On an annual basis, finance, insurance, real estate and business activities recorded the highest growth rate (12.5 percent), accelerating from a 10 percent expansion in the previous quarter. Community, social and personal services advanced at a faster pace of 7 percent (4.2 percent in the September quarter) and trade, hotels, transport and communication activities rose 4.3 percent on the year.

Construction output slowed sharply to an annual growth rate of 0.6 percent (4.3 percent in the preceding three month period); electricity, water and gas supply rose 5 percent and agricultural production advanced at a slower pace of 3.6 percent.

In contrast, mining and manufacturing production shrank on the year. Mining contracted 1.6 percent while manufacturing dropped 1.9 percent, following a 1 percent expansion in the previous quarter.

Indian GDP Grows Below Expectations


Joana Taborda | joana.taborda@tradingeconomics.com
2/28/2014 12:21:02 PM