The economy is showing signs of a gradual deceleration, expanding at the slowest pace in three quarters. In the April-June period ? the first quarter of the fiscal year 2011/12 ? GDP increased 7.7% over the same period last year. The reading came in a notch below the 7.8% expansion observed in the previous quarter but was in line with last month's FocusEconomics Consensus Forecast panellists' expectations. The weakening over the previous quarter was mainly due to a slower growth pace in agriculture, which moderated to a 3.9% increase (Q4 2010/11: +7.5% year-on-year), as well in the construction sector, which grew just 1.2% (Q4 2010/11: +8.2% yoy). In contrast, growth in manufacturing picked up to 7.2% (Q4 2010/11: +5.5% yoy), while in the trade, hotels, transport and communication sector ? which represents nearly a quarter of the overall economy ? growth soared to a robust 12.8% (Q4 2010/11: +9.3% yoy).
Economy continues to lose steam
August 30, 2011
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India Economic News
October 17, 2016
Recently-released data related to India’s external sector showed that the trade deficit totaled USD 8.3 billion in September, which was a smaller shortfall than the USD 10.2 billion gap recorded in September 2015 (August 2016: USD 7.7 billion deficit).
October 15, 2016
In September, consumer prices fell 0.23% from the previous month, which followed August’s flat growth.
October 12, 2016
The fall in industrial production moderated in August, after recording the largest contraction since November 2015 in July.
October 5, 2016
Activity in India’s manufacturing sector lost steam in September.
October 4, 2016
The newly facelifted Reserve Bank of India (RBI) decided to ease monetary policy at a scheduled meeting on 4 October, cutting the repurchase rate from 6.50% to 6.25%—an over five-year low.