Q3 FY23 GDP: Oct-Dec GDP growth at 4.4%

GDP growth for the October to December quarter (Q3) of the current financial year came in at 4.4% more or less in line with estimates. This compares to 6.3% GDP for the quarter ending September 2022.

On a sectoral basis, for Q3, agriculture growth and mining growth came in at 3.7% each. Manufacturing saw a contraction of 1.1%. Meanwhile, construction sector grew a strong 8.4% as well as trade, hotel, transport, communications saw a 9.7% growth. Real estate and financial sector growth came in at 5.8%.

The government has kept the GDP estimate unchanged at 7% for the full financial year 2022-23.

However, the GDP growth for the previous financial year FY22 has been revised upwards to 9.1% as against an earlier estimate of 8.7%.