India's GDP slows to 5.4 pct in July-September quarter

India's economic growth slowed to 5.4 percent during the period from July to September, marking the slowest pace in seven quarters, government data released on Friday showed.

The previous quarter from April to June recorded a growth of 6.7 percent.

The slowdown of the July-September quarter has been attributed to poor performance of the manufacturing and mining sectors, according to a statement issued by the Ministry of Statistics and Programme Implementation.

The agriculture sector grew by 3.5 percent in the July-September quarter, compared to 1.7 percent in the same period last year.

The manufacturing sector recorded a 2.2 percent growth, down from 14.3 percent in the July-September quarter of 2023.

Electricity, gas, water supply and other utility services slowed to 3.3 percent from 10.5 percent a year ago. The construction segment also slowed to 7.7 percent from 13.6 percent a year ago. Trade, hotels, transport, communication and services related to broadcasting grew by 6 percent from 4.5 percent a year ago. Mining and quarrying contracted 0.1 percent, compared with a growth of 11.1 percent a year ago.

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