Third quarter GDP slows to 4.5%, even slower than the second quarter 5.3%

negative graph

India’s economy grew at a worse-than-expected 4.5 per cent in the quarter ending December 31, hurt by a slowdown in agriculture, mining and manufacturing, government data showed on Thursday. The country’s economy grew at at an even lower-than-expected 5.3 per cent in the quarter ending in September.

The manufacturing sector grew an annual 2.5 per cent during the quarter while farm output rose just 1.1 per cent, the data showed. Mining fell by 1.4 per cent.

The Indian economy has lost momentum in recent years. Preliminary estimates earlier this month showed the economy is on track to grow just 5 per cent in the current fiscal year to March.