Search This Blog

Friday, August 30, 2013

India's economic growth slows to four-year low in Q1

India's economy grew at the slowest quarterly rate since the global financial crisis in the three months through June, lower than expected and hurt by a contraction in mining and manufacturing, government data showed on Friday. 

Analysts polled by Reuters had forecast growth of 4.7 per cent. April-June's figure of 4.4 per cent was the slowest growth since the Jan-March quarter of 2009. 

The Indian economy has been steadily losing momentum in recent years. Economic growth virtually halved in two years to 5 per cent in the fiscal year that ended in March — the lowest level in a decade — and most economists surveyed by Reuters in the past week expect 2013/14 to be worse. 

No comments:

Post a Comment