India’s slowing GDP growth rate, data updated

India's GDP growth in Q3 of 2022-23 slowed to 4.4%, down from 6.3% in Q2

The manufacturing sector continued to shrink, albeit at a slower rate of 1.1% compared to 3.6% in Q2.

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[{"selector":"#anim-51ce0d0b-9a02-47e7-b687-c1bcc33d09a0 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(-3.4034399948172863e-15%, 2.5495635385903583e-7%) scale(0.8403361344537815)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":6000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] The National Statistical Office retained its full year growth estimate for the economy at 7% despite revising the 2021-22 GDP rise higher to 9.1% from 8.7%. The National Statistical Office retained its full year growth estimate for the economy at 7% despite revising the 2021-22 GDP rise higher to 9.1% from 8.7%.

Economists term the manufacturing sector's persistent slack a negative surprise that has lowered the Q3 growth levels.

The Chief Economic Advisor, V Anantha Nageswaran believes the economy's momentum is strong and stable, and predicts 7% real GDP growth in 2022-23.

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