India's economic growth slowed unexpectedly during January to March quarter, data published by the Central Statistics Office showed Thursday.
Gross domestic product expanded only 5.3 percent from a year ago, which was slower than the 6.1 percent growth seen in the prior quarter. Economists were expecting the annual rate to stagnate at 6.1 percent.
The manufacturing sector contracted 0.3 percent annually during the March quarter. Moreover, annual growth in construction fell to 4.8 percent and agriculture, forestry and fishing rose at a slower pace of 1.7 percent. Meanwhile, mining and quarrying rose 4.3 percent after easing 2.8 percent in the prior quarter.
The full year growth for 2011-12 was revised down to 6.5 percent from the 6.9 percent estimated in February.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.