India's economy grows more than expected
2012-08-31 12:39:10
India's economy grew at a faster than expected pace during April to June on construction and services, data from the Central Statistics Office showed Friday.
Gross domestic product advanced 5.5 percent annually compared to the expected expansion of 5.2 percent. During the same period of last year, the growth rate was 8 percent.
The construction sector registered 10.9 percent from a year ago, and financing insurance, real estate and business services expanded 10.8 percent.
The farm sector grew 2.9 percent annually. Mining and manufacturing logged weak growth during the quarter ended June. Mining output edged up 0.1 percent and manufacturing rose only 0.2 percent.