In the January-March period ? the last quarter of the fiscal year 2010/11 ? GDP grew 7.8% over the same period the year before. The reading represents the slowest pace of expansion in five quarters, confirming the notion that economic activity is cooling down. Furthermore, the relatively weak print undershot market expectations, which had the economy growing 8.1%. The slower pace of expansion was broad-based, albeit driven mainly driven by weaker growth in the agricultural sector, which moderated to a 7.5% expansion (Q3 2010/11: +9.9% yoy). The industrial sector also decelerated over the previous quarter, mainly as a result of the dismal performance of the mining and quarrying sector (Q3 2010/11: +6.9% yoy; Q4 2010/11: +1.7% yoy) as well as of manufacturing (Q3 2010/11: +6.0% yoy; Q4 2010/11: +5.5% yoy). In contrast, in the services sector, growth in the hotels, trade, transport, and communications sector, which accounts for more than a quarter of total output, picked up from 8.6% in the previous quarter to a 9.3% expansion.
GDP growth slows for a fifth consecutive quarter
May 31, 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.