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Economic growth hits 2-1/2 year high in June quarter

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Reuters NEW DELHI

NEW DELHI (Reuters) - India's economy grew by a faster-than-expected 5.7 percent in the three months through June, its fastest pace in two-and-a- half years, helped by a rebound in manufacturing and mining sectors, government data showed on Friday.

Analysts polled by Reuters had forecast annual growth of 5.3 percent in the quarter.

Manufacturing expanded at an annual rate of 3.5 percent during the April-June quarter compared with a contraction of 1.2 percent a year ago. Mining sector grew 2.1 percent compared with a 3.9 percent annual fall a year earlier, the data showed.

However, the annual farm output growth slowed to 3.8 percent in the quarter, from 4.0 percent a year ago.

 

(Reporting by Rajesh Kumar Singh; editing by Malini Menon)

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First Published: Aug 29 2014 | 5:46 PM IST

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