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The Southern India Mills’ Association

Committed to Foster the Growth of the Textile Industry

GDP growth slows in 3rd quarter

GDP growth slowed for the third consecutive quarter in the October-December 2018 period, according to data released on Thursday.
Growth fell to 6.6% in the third quarter, the lowest in the last six quarters.
The growth estimate for fiscal 2018-19 has been scaled down to 7% from the earlier estimated 7.2%.
The slowdown was led by agriculture, which is estimated to grow at 2.7%, against the earlier estimate of 3.8%.
The manufacturing sector is estimated to grow at 8.1%, marginally lower than the previously estimated 8.3%.
The government on Thursday revised downwards its estimate for GDP growth in the 2018-19 fiscal.