India's Q4 GDP at 5.8 per cent

>> Friday, May 29, 2009

India's economy grew a faster than expected 5.8 percent in the March quarter from a year earlier, as a still strong services sector offset a decline in manufacturing.

The annual growth for India's fiscal fourth quarter was above a median forecast of 5.2 percent in a Reuters poll, but sharply lower than the year-ago quarter's 8.6 percent expansion.

The manufacturing sector contracted 1.4 percent in the January-March quarter from a year earlier, while farm output grew an annual 2.7 percent, government data showed on Friday.

For the full year, India's economy grew 6.7 percent in 2008/09, sharply slower than the 9.0 or more in the previous three years. The FY09 projection was 7.1%

Farm sector growth has been revised to 1.6% vs 2.6% earlier.
Source - Economic Times