India's construction sector witnesses sharper decline in third quarter

Among various sectors, growth in agriculture rose in the second and the third quarters of the current fiscal year, compared to the previous quarters of FY20. On the other hand, services saw the exact opposite trend even as growth rates remained above 6 per cent in each quarter. Growth in government spending, which drives economy these times, was up in the second quarter and down in the third, compared to the previous quarters. Construction saw a similar trend of services with the difference that the deceleration was much sharper in the second and third quarter in the former than later. Manufacturing saw contraction in the second and third quarters, against growth of just above 2 per cent in the first quarter.