.Economic growth declines to 5.3% in Jul-Sep quarter

Indian economy grew by 5.3 per cent in the July-September period of the current financial year (2012-13), pulled down by poor performance of manufacturing and agriculture sectors, showing persistent signs of slowdown. 
The gross domestic product had expanded by 6.7 per cent in the same period of last fiscal.It had grown by 5.5 per cent in the first quarter (April-June) of 2012-13.  During the three-month period ended September 30, the manufacturing sector grew marginally by 0.8 per cent, against 2.9 per cent growth in the same period of 2011-12, according to data released by the Central Statistical Organisation (CSO) today. 

Farm sector output expanded by just 1.2 per cent in the July-September period this fiscal against 3.1 per cent in the same period last year.  The economic growth in the first six month of this fiscal (April-September) is 5.4 per cent, lower than 7.3 per cent growth clocked in the year-ago period.  In the July-September quarter, trade, hotels, transport and communications segment also witnessed lower pace of growth at 5.5 per cent compared to 9.5 per cent expansion in the same quarter in year ago