India's Economy Makes Timid Recovery in Q1


India's quarterly Gross Domestic Product grew at 4.8 percent in the first quarter of 2013, only slightly better than an upwardly revised 4.7 percent growth in the previous three months. While Services were the largest contributor to growth, Manufacturing rose only 2.6 percent, Electricity, gas and water supply increased 2.8 percent, Agriculture, forestry and fishing were up 1.4 per cent and Mining and quarrying declined 3.1 percent.

GDP at factor cost at constant (2004-05) prices in Q1 of 2013 is estimated at Rs. 14,70,782 crore, as against Rs. 14,03,727 crore in Q1 of 2012, showing a growth rate of 4.8 percent. According to the latest estimates available, the index of mining, manufacturing and electricity registered growth rates of -4.2 percent, 2.6 percent and 2.3 percent respectively, in Q1 of 2013, as compared to the growth rates of -0.4 percent, 0.3 percent and 4.5 percent respectively in these sectors in Q1 of 2012.

Private Final Consumption Expenditure and Gross Fixed Capital Formation at constant (2004-05) market prices in Q1 of 2013 are estimated at Rs. 8,66,854 crore and Rs. 5,17,039 crore, respectively. The rates of PFCE and GFCF as percentage of GDP at market prices in Q1 of 2013 were 54.7 percent and 32.6 percent, respectively, as against the corresponding rates of 54.3 percent and 32.5 percent, respectively in Q1 of 2012. 

Growth rates in various sectors are as follows: ‘electricity, gas and water supply’ (2.8 percent) ‘construction’ (4.4 percent), 'trade, hotels, transport and communication' (6.2 percent), 'financing, insurance, real estate and business services' (9.1 percent), and 'community, social and personal services' (4.0 percent)

India


MOSPI | Nuno Fontes | nuno@tradingeconomics.com
5/31/2013 1:15:14 PM