Indian economy expands 8.8 pc in Apr-Jun 2010

New Delhi, Aug 31: Despite dampening trends in certain sectors like financial services, Indian economy expanded a whopping 8.8 per cent during the Apr-June 2010 quarter riding on healthy growth in manufacturing sector.

Manufacturing grew by strong 12.4 per cent in the quarter ended Jun 2010 as against 3.8 per cent growth recorded in the corresponding quarter of 2009.

Construction, which was among the other sectors that fuelled the impressive growth, expanded by 7.5 per cent as against 4.6 per cent in Apr-Jun quarter in 2009.

Agriculture and allied activities grew by 2.8 per cent, up from 1.9 per cent while trade, hotels and communication services rose by 12.2 per cent, higher than 5.5 per cent in 2009.

On disappointing side, services such as financial, insurance and real estate services expanded by just 8 per cent, against 11.8 per cent growth rate in the 2009 quarter. Besides this, community social and personal services also slowed down to 6.7 per cent, against 7.6 per cent.

OneIndia News