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India’s economic growth slows in Q1

by ChemOrbis Editorial Team -
  • 01/09/2015 (14:17)
According to media reports, government data showed that India’s economic growth slowed in the April- June period. The country’s gross domestic product (GDP) grew 7% in the first quarter of Indian financial year beginning April 1 after posting a growth rate of 7.5% in the previous three months. The Q1 growth rate missed economists’ initial estimates, which called for a growth rate of 7.4% in a survey conducted by Bloomberg.

The latest official data showed that the manufacturing, hotels, financial and insurance services and real estate sectors grew above the 7% threshold in the April- June period while the agriculture and mining sectors posted growth rates below 7%.

According to the government, the economy is now in a recovery mood although some analysts commented that the latest growth figures show that the government needs to speed up efforts to boost growth.
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