In the July-September period - the second quarter of the fiscal year 2012/13 - GDP increased 5.3% over the same period last year. The reading came in slightly below the 5.5% expansion observed in the previous quarter but was in line with market expectations. The deceleration over the previous quarter was broad-based, with most sectors recording slower growth rates. In particular, the important agricultural sector expanded a meagre 1.2%, down from the 2.9% expansion observed in Q1, while manufacturing grew only 0.8% (Q1 2012/13: +0.2% year-on-year). On a positive note, the trade, hotels, transport and communication sector - which represents over a quarter of the overall economy - accelerated to a 5.5% expansion (Q1 2012/13: +4.0% yoy).
GDP growth slows in Q2
November 30, 2012
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India GDP Chart
Note: Year-on-year variation in %.
Source: Ministry of Statistics and Programme Implementation (MOSPI) and FocusEconomics Consensus Forecast.
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.