September 1, 2012 9:21 AM

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Growth dips to 5.5% in first quarter

Economic growth declined to 5.5 per cent in the April-June quarter this fiscal due to poor performance of manufacturing, mining and farm sectors.The gross domestic product (GDP) had expanded by 8 per cent in the April-June quarter of 2011-12. During the quarter ended June 30, the manufacturing sector grew marginally by 0.2 per cent, against 7.3 per cent growth in the same period of 2011-12, according to the official data released today.Farm production expanded by 2.9 per cent in the first quarter against 3.7 per cent in the same period last year. The trade, hotels, transport and communications segment also witnessed lower pace of growth at 4 per cent compared to 13.8 per cent expansion in the same quarter year-ago period.The growth rate of electricity, gas and water supply also dipped to 6.3 per cent in first quarter, from 8 per cent in the corresponding period last fiscal.However, the growth in the construction sector was robust at 10.9 per cent during Q1 of 2012-13, as against 3.5 per cent in the year-ago period.Economic growth in the January-March quarter was at nine-year low of 5.3 per cent, as per the provisional estimates released earlier.

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