Gross Domestic Product (GDP) for the first quarter of this 2013-14 fiscal year came in at a four-year low of 4.4% versus 5.4% (YoY), below street expectation of 4.7%. In the previous quarter, the GDP witnessed a 4.8% growth.
Agricultural growth, on which economists had pinned a lot of hope, came in at 2.7% (vs 1.4%) and industrial growth recorded a dismal 0.2%t growth against an 1.8% in the same quarter previous year. Services sector grew in line with expectation at 6.6%.
Also read: HDFC Bank economist Abheek Baruah's analysis of GDP numbers
Mining, Manufacturing and Electricity registered growth rates of - 4.5 % (vs -1.6 %), -1.2 percent (Vs -0.8 %) and 3.5 % (vs 6.4 %) respectively during Q1 of 2013-14 as compared to the growth rates of in these sectors during Q1 of 2012-13.
The key indicators of construction sector, namely, production of cement and consumption of finished steel registered growth rate of 3.3% and 0.2 %, during Q1 of 2013-14.
Below are the sector wise growth/degrowth:
Q1 FY14 GDP At 4.4 % Vs 4.8 % (QoQ)
Q1 FY14 GDP At 4.4 % Vs 5.4 % (YoY)
Q1 FY14 Services Growth At 6.6 % Vs 6.6 % (QoQ)
Q1 FY14 Services Growth At 6.6 % Vs 7.7 % (YoY)
Q1 FY14 Ind Growth At 0.2 % Vs 2.7 % (QoQ)
Q1 FY14 Ind Growth At 0.2 % Vs 1.8 % (YoY)
Q1 FY14 Agriculture Growth At 2.7 % Vs 1.4 % (QoQ)
Q1 FY14 Agriculture Growth At 2.7 % Vs 2.9 % (YoY)
Q1 FY14 Construction Growth At 2.8 % Vs 7 % (YoY)
Q1 FY14 Mfg Sector Growth At -1.2 % Vs -1 % (YoY)
Q1 FY14 Mining Growth At -2.8% Vs 0.4% (YoY)
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