Sept-qtr GDP growth seen slowest in over 2 years

Tuesday, 29 November 2011 00:20 - - {{hitsCtrl.values.hits}}

REUTERS FORECAST - The Indian economy probably grew an annual 6.9 percent in the quarter through September, at its weakest pace in more than two years, the median forecast from a poll of 22 economists showed.

Gross domestic product (GDP) growth in Asia’s third-largest economy slipped from 7.7 percent clocked in the previous quarter, dragged down by the central bank’s 13 interest rate increases in the past 18 months to contain near double-digit inflation and faltering global growth.

The forecasts ranged from 5.6 percent to 7.5 percent.

The last time the economy grew at sub-7 percent was in the quarter through June 2009, when western economies were stepping out of the global financial crisis of 2008.