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GDP growth slows to nearly 7-year low of 4.7% in Q3 on weak manufacturing

Interestingly, the GDP estimates for FY19 have been revised downwards significantly, pushing up quarterly growth estimates for the current financial year

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Manufacturing is set to show 0.9 per cent growth, the lowest since 2012-13 in the current GDP series

4 min read Last Updated : Feb 29 2020 | 1:54 AM IST

Unprecedented contraction in investment and manufacturing output in two successive quarters dragged down India’s economic growth to a 27-quarter low of 4.7 per cent in the quarter ended December 2019 (with the previous quarter’s growth having been corrected).

Looking ahead, gross domestic product (GDP) growth is set to stagnate at 4.7 per cent in the March quarter (Q4) too, according to the annual estimate of 5 per cent by the National Statistical Office (NSO).

Even in annual terms, investment is set to show a contraction of 0.6 per cent, according to the second advance estimate for FY20 released by the

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