Low manufacturing with little support from govt spend pulled economy down

The chief culprit for economic growth decline was manufacturing sector. It grew by just 0.6% in the April-June 2019 quarter, compared to the double digit growth of 12.1% in the same period of 2018

The economic growth numbers for the April-June 2019 period were widely expected to indicate further deceleration. Yet, when these numbers were released on Friday, there was surprise all around. 

The gross domestic product (GDP) for the first quarter of 2019-20 grew by just 5 per cent, a six-year low. The gross value added (GVA) at basic prices grew at an even lower rate of 4.9 per cent. A year ago in April-June 2018, GDP growth was 8 per cent and GVA growth was 7.7 per cent. 

The surprise, however, lay in the extent of the deceleration and its causes. 

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