Indian GDP Growth Beats Expectations

In the third quarter of 2013, Indian economy advanced 4.8 percent over a year earlier, up from 4.4 percent in the previous three-month period, led by a surge in agriculture production and construction. Although third quarter figures came above market expectations, the economy grew below 5 percent for the fourth straight quarter.

Activities in finance, insurance, real estate and business services recorded the highest growth rate (10 percent yoy), followed by production of electricity, gas and water supply (7.7 percent yoy). 

Agricultural production accelerated again in the September quarter and increased 4.6 percent yoy. Production of coarse cereals, pulses and oilseeds are expected to grow by 4.9 percent, 1.9 percent and 14.9 percent respectively during the Kharif season of 2013-14 compared with a year ago.  

Construction output accelerated to 4.3 percent, up from 2.8 percent in the previous quarter. Mining shrank for the second straight quarter (-0.4 percent), although at a slower pace than in the previous three-month period (-2.8 percent). Manufacturing recovered from previous quarter’s contraction and grew 1 percent.

Indian GDP Growth Beats Expectations

MSPI | Joana Taborda |
11/29/2013 12:39:27 PM