Indian GDP Growth Slows More Than Expected

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The Indian economy grew 6% during October to December from the previous year, the Central Statistical Organization said Friday. The economic growth eased from 7.9% in the previous quarter. Economists had expected the annual growth rate to slow to 6.9%.

The manufacturing sector showed an annual increase of 14.3%, faster than the 9.2% growth in the prior quarter. Mining and quarrying grew 9.6% and construction rose 8.7%. Meanwhile, farm output was down 2.8%.

According to advance estimates released by the CSO on February 8, the Indian economy is set to grow 7.2% in the 2009-10 fiscal year. That was larger than the 2008-09 growth rate of 6.7%.

The Indian economy grew 6% during October to December from the previous year, the Central Statistical Organization said Friday. (Market News Provided by RTTNews)