Indian Economy Expands 7.3% YoY In Q3

India's gross domestic product advanced 7.3 percent year-on-year in the third quarter of 2016, following 7.1 percent expansion in the previous period and missing market expectations of 7.5 percent growth. Private consumption expanded at a faster pace while government spending slowed down and fixed investment dropped further.
Yekaterina Guchshina | yekaterina@tradingeconomics.com 11/30/2016 1:13:57 PM
Private consumption growth accelerated to 7.6 percent from 6.7 percent in the previous quarter while government spending rose at a slower 15.2 percent (+18.8 percent in Q2). Gross fixed capital formation shrank at a faster 5.6 percent, following a 3.1 percent contraction in the previous period.

Exports increased 0.3 percent, following a 3.2 percent growth in the second quarter; while imports declined 9 percent after falling 5.8 percent in the precedent period.

On the production side, the gross value added for public administration, defence and other services expanded the most (+12.5 percent vs +12.3 percent in Q2), followed by: financial, insurance, real estate and professional services (+8.2 percent vs +9.4 percent); manufacturing (+7.1 percent vs +9.1 percent); trade, hotel, transport, communication and services related to broadcasting (+7.1 percent vs +8.1 percent); electricity, gas, water supply and other utility services (+3.5 percent vs +9.4 percent); agriculture, forestry and fishery (+3.3 percent vs +1.8 percent) and construction (+3.5 percent vs +1.5 percent). By contrast, mining and quarrying contracted 1.5 percent (-0.4 percent in Q2).

Indian Economy Expands 7.3% YoY In Q3