Growth in the country's GDP slowed to 7 per cent in the first quarter of the current fiscal, from 7.5 per cent in the last quarter of the previous fiscal. GDP growth slowed due to a deceleration in the farm, services and manufacturing sectors. GDP had grown 6.7 per cent in the year-ago quarter, according to data from the Central Statistics Office. Growth in the output of electricity, gas, water supply and other utility services slowed to 3.2 per cent, from 10.1 per cent in the year-ago quarter. The manufacturing sector grew 7.2 per cent during the first quarter of the current fiscal, against 8.4 per cent growth in the year-ago quarter. The farm and allied sectors grew 1.9 per cent, compared to 2.6 per cent growth in the year-ago quarter. The government has forecast 8.1 to 8.5 per cent GDP growth for the current fiscal.
News On AIR | August 31, 2015 8:40 PM
Economic growth slows to 7% in April-June quarter