GDP data: Muted growth in major segments in GVA; economists not optimistic

Economists don't agree with the finance ministry's optimism that the economy is on track

The country’s economic growth slowed to a three-quarter low of 7.1 per cent in July-September 2018-19 from almost a four-year high of 8.2 per cent in April-June.

This was despite gross fixed capital formation, denoting investment activities, growing by double digits for the third straight quarter.

Growth in gross value added moderated to a three-quarter low of 6.9 per cent in Q2, pulled down by manufacturing, mining and agriculture, among others. The financial services sector saw a subdued growth rate.

Almost none of the major segments in gross value added (GVA), except electricity, which has a low share in GDP, and government-supported services,