2010.08.3103:23:00UTC+00India's April-June Economic Growth Accelerates

India's economy expanded 8.8% on an annual basis during April to June, data from the Central Statistical Organisation showed Tuesday. The latest growth figure was larger than the 8.6% growth seen in the prior quarter and matched economists' expectations. During April to June 2009, gross domestic product had climbed 6%.

The manufacturing sector recorded an annual growth of 12.4% and the growth in agriculture was 2.8% during April to June. Electricity and mining output showed 6.6% and 8.9% growth, respectively.

The government expects GDP to grow more than 8.5% in the current fiscal year.

According to a survey from Markit Economics, India's private sector activity grew at a slower pace in July. Data released on August 4 showed that the HSBC composite output index fell to 61.9 in July from a twenty-three month high.

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