India's Jan-March Economic Growth Slows


31/05/2012 09:41 AST  RTT News

India's economic growth slowed unexpectedly during January to March quarter, data published by the Central Statistics Office showed Thursday.

Gross domestic product expanded only 5.3 percent from a year ago, which was slower than the 6.1 percent growth seen in the prior quarter. Economists were expecting the annual rate to stagnate at 6.1 percent.

The manufacturing sector contracted 0.3 percent annually during the March quarter. Moreover, annual growth in construction fell to 4.8 percent and agriculture, forestry and fishing rose at a slower pace of 1.7 percent. Meanwhile, mining and quarrying rose 4.3 percent after easing 2.8 percent in the prior quarter.

The full year growth for 2011-12 was revised down to 6.5 percent from the 6.9 percent estimated in February.

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