The Strategist

India's October-December GDP growth accelerates to 6-quarter high



03/01/2024 - 02:31



India's statistics ministry released a study stating that the country's GDP increased by 8.4% year over year during the third fiscal quarter (October–December).



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The rate of growth surged to a peak after six quarters. Revisions to the figures indicate that the GDP grew by 8.1% during the second fiscal quarter.

The average projection among experts surveyed by Trading Economics was a 6.6% increase in GDP from October to December.

The previous quarter saw growth of 11.6% in the nation's industrial sector, 9.5% in the construction sector, 6.7% in the services sector, and 9% in the utilities sector. In the meantime, the El Niño influence and unfavorable weather also contributed to the 0.8% fall in agriculture.

3.2% less was spent by the government.

Business investment increased by 10.6% while consumer expenditure increased by 3.5%.

Exports rose by 3.4% while imports rose by 8.3%.

The GDP growth estimate for 2023–2024 was revised by the Indian government from 7.3% to 7.6%.

source: tradingeconomics.com




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