18 hrs ago
India Growth Holds as Inflation and Weak Industry Weigh
A report from BCG says India’s economy continued to grow in the first quarter.
Services grew the fastest, increasing by 10%.
Financial services, real estate and professional services helped drive that growth.
Industry grew by 7.7%, with manufacturing providing support.
Agriculture grew by 3.6%.
However, services and industry grew more slowly than they had in the March quarter.
The report also points to inflation and weak industrial activity as pressures on growth.
A BCG report said India’s growth momentum remained intact.
Services grew 10% in the first quarter, led by financial, real estate and professional services.
Industry expanded 7.7%, supported by manufacturing.
Agriculture grew 3.6% in the first quarter.
Services and industry growth moderated from the March quarter, with financial services, manufacturing and construction contributing to the slowdown.
- Who
- The Boston Consulting Group (BCG) issued the report.
- What
- The report said India’s growth momentum held, while inflation and weak industrial activity weighed on growth.
- Where
- India.
- When
- The report discussed first-quarter growth and compared it with the March quarter.
- Why
- Inflation and weak industrial activity weighed on growth; services and industry also moderated sequentially.
Key facts
- Services growth
- 10% in the first quarter
- Industry growth
- 7.7% in the first quarter
- Agriculture growth
- 3.6% in the first quarter
- Main services drivers
- Financial services, real estate and professional services
- Industrial support
- Manufacturing
- Growth comparison
- Services and industry growth moderated from the March quarter
Sources
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