India Q3 GDP Growth Slows Down to 6.1%
India's economy grew at 6.1 percent in the October-December quarter, the slowest rate of growth in 11 quarters, official data released on Wednesday showed.
This is a major slowdown from the July-September quarter, when growth in gross domestic product was 6.9 percent. In the April-June quarter growth was 7.7 percent.
The data showed the manufacturing sector grew an annual 0.4 percent during the December quarter and farm output increased 2.7 percent, both of which are below expectations. Growth in the third quarter has been largely dependent on the services sector, which rose at 8.9 percent. Industry sector growth was at 2.6 percent while construction sector growth was at 7.2 percent.
The economy is expected to grow at 6.9 percent in the year ending in March which will be much below the annual growth of 8.4 percent in the last two fiscal years.
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