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India’s GDP growth fell more sharply than anticipated, reaching a seven-quarter low of 5.4 percent in the second quarter of FY25, down from 6.7 percent in the first quarter.
Mining contracted for the first time in eight quarters, while the manufacturing and utilities sectors showed weak growth in the second quarter.
Data released on November 29 indicates that the situation on both the capital expenditure and consumption fronts was equally concerning. Despite a low base of 2.6 percent in Q2FY24, consumption growth remained subdued at 6 percent, down from 7.4 percent in the previous quarter.
Investment growth also slowed, dropping to a six-quarter low of 5.4 percent, down from 7.5 percent the previous quarter. Additionally, the decline in export growth to 2.8 percent, from 8.7 percent in the prior quarter, further compounded the overall economic slowdown.
