India records a 4.8% increase in construction activity

The Central Statistics Office (CSO), Ministry of Statistics and Programme Implementation has released the estimates of Gross Domestic Product (GDP) for the first quarter of the 2014 – 2015 financial year (April-June). Quarterly GDP is estimated at 14.38 lakh crore, compared to 13.61 lakh crore recorded in the same period a year earlier, representing a growth rate of 5.7% y/y.

The economic activities that registered significant growth in the first quarter (compared to the first quarter of the 2013 – 2014 financial year) are electricity, gas and water supply (10.2%), financing, insurance, real estate and business services (10.4) and community, social and personal services (9.1%). The estimated growth rates in other economic activities during this period are: 4.8% in construction, 3.5% in manufacturing, 2.8% in trade, hotels, transport and communication, 3.8% in agriculture, forestry and fishing, and 2.1% in mining and quarrying.

The key indicators of the construction sector, namely production of cement and consumption of finished steel, registered growth rates of 9.5% and 0.7%, during the April-June quarter.

Adapted from press release by Rosalie Starling

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