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India’s economy slows down in July-Sept period

by ChemOrbis Editorial Team -
  • 28/11/2014 (17:35)
According to media reports, India’s economy slowed down in the July- September period of this year. The country’s gross domestic product (GDP) rose 5.3% on a yearly basis in the three months ended September compared with an increase of 5.7% posted in the previous quarter. However, the quarterly increase in the country’s GDP beat the initial estimates which called for a growth rate of 5.1% in a survey by Reuters.

The increase was attributed to stronger mining and services sectors as well as stronger-than-expected farming after a monsoon season. The country’s mining sector expanded by 1.9% year over year in the July-September period, while the manufacturing sector was up 0.1% compared with the same period of the last fiscal year. Electricity, gas and water supply increased by 8.7% year over year in the last three months ended in September and the country’s farm sector was up 3.2%, slowing down from a 5% increase recorded in the same period of the last fiscal year.
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