India's economic growth (GDP) declines to 5.3% in July-Sept quarter, from 6.7% year ago
Agencies: New Delhi, Nov 30 2012, 11:20 IST
cent during the quarter, as against a contraction of 5.4 per cent in the second quarter of 2011-12.
In the second quarter, trade, hotels, transport and communications segment also witnessed lower pace of growth at 5.5 per cent compared to 9.5 per cent expansion in the same quarter in year ago.
The growth rate of electricity, gas and water supply also dipped to 3.4 per cent in the second quarter, from 9.8 per cent witnessed in the same quarter of 2011-12.
Construction sector expanded by 6.7 per cent, as against 6.3 per cent in the year-ago period.
Growth rate of services sector, including insurance and real estate, stood at 9.4 per cent in the second quarter, against 9.9 per cent recorded in same quarter last fiscal.
"Do not expect any major change in the December quarter figures," research firm KASSA's Director Siddharth Shankar said.
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