Gross domestic product (GDP) growth slowed sharper than expected: GDP grew 5.4% on-year in the second quarter of this fiscal, a sharp deceleration from the 6.7% in the first quarter of fiscal 2024. This comes over high growth in the second quarter of fiscal 2024, in which the economy had grown 8.1%
Gross value-add (GVA) moderated to 5.6% in the second quarter versus 6.8% in the previous quarter
Nominal GDP moderated as well, to 8.0% from 9.7% in the first quarter of this fiscal; it was also lower than the 9.6% recorded in the year-ago quarter
