India’s GDP growth slips to 4.7% in Q3

Team Udayavani, Feb 28, 2020, 6:08 PM IST

New Delhi: India’s economic growth slowed to 4.7 per cent in October-December 2019, according to official data released on Friday.

The Gross Domestic Product (GDP) growth was registered at 5.6 per cent in the corresponding quarter of 2018-19, as per the data released by the National Statistical Office (NSO).

During the nine-month period (April-December 2019), the Indian economy grew 5.1 per cent as against 6.3 per cent in the same period a year ago.

The GDP growth rate for the first quarter of 2019-20 was revised to 5.6 per cent, and for the second quarter to 5.1 per cent.

The NSO has pegged economic growth at 5 per cent in 2019-20 in its second advance estimates released on Friday, the same as its estimates last month.

The Reserve Bank had also estimated 5 per cent GDP growth for 2019-20. China’s economic growth was 6 per cent in October-December 2019, which was the weakest expansion in over 27 years. China’s economic growth was 6.1 per cent in 2019 (calendar year), the slowest in about three decades.