India's Q2 GDP grows at 5.3% - beats estimates

      

     India has once again registered a 5%+ growth rate as its GDP grew at 5.3% during the quarterly through September of this year. The GDP data was slightly better than predictions made by various analysts. Most of the estimates were around 5%-5.1%. Though this growth rate is slower than the Q1 (April-June quarter) figure of 5.7%, it fares better when compared with Q2 growth rate of the previous fiscal which was only at 4.8%. This dip is largely due to sluggish manufacturing sector which grew at an dismal 0.1%. The agriculture sector picked up pace which grew at an satisfactory 3.2% on the backdrop of good monsoon. The actual size of GDP (at factor cost) in the July-September quarter stands at INR 14.41 trillion. The half-yearly growth rate (during April-September period) stands at 5.5% significantly higher than the previous year figure of 4.6%.