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Economy Slows Down To Lowest Growth In Decade

PUBLISHED BY: SURENDER KUMAR
DECEMBER 02, 2012

   
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The negative news on India's growth front shows no signs of stopping.  The economy, as was widely feared, has grown by just 5.3% in the second quarter vis a vis the same period last year. The little growth the economy has had is led by the services-sector activity despite slow industrial and agricultural activity.

 

 

 

 

The GDP growth represents a slowdown from the 5.5% year-on-year expansion seen in the April-June period. The figure is significantly lower than the 6.7% rate seen during July-September last. While agriculture grew 1.2% and manufacturing activity increased just 0.8% in the last quarter, improvement in services, responsible for about 55% of the country's output, pushed the overall growth rate higher.

 




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