India's economic growth rate slowed to 4.4% in the December quarter as rising interest rates and elevated raw material prices rippled through the economy while global trade languished.
The median estimate of 20 economists polled by Mint had showed that growth likely slowed to 4.7% in the December quarter.
Gross domestic product growth also slowed from 6.3% in the three months ended September and 5.2% in the year-ago December quarter.
Tuesday's official data showed that the slowing growth rate can be attributed in part to a contraction in manufacturing output caused by high input costs and a diminishing pandemic-related base effect. The moderation in growth also fuelled concerns about the sustainability of pent-up demand that supported consumption post the pandemic.
Data from the ministry of statistics and programme implementation showed that manufacturing output contracted by 1.1% in the December quarter, the second consecutive quarter after a 3.6% contraction seen in the preceding three months.
Bu hikaye Mint Mumbai dergisinin March 01, 2023 sayısından alınmıştır.
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Bu hikaye Mint Mumbai dergisinin March 01, 2023 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Giriş Yap
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