Feb 28 Reuters India39;s economic growth slowed further in the December quarter as pent up demand eased and weakness in the manufacturing sector continued.

Asia39;s third largest economy recorded yearonyear growth of 4.4 in OctoberDecember, down from 6.3 in JulySeptember, data released by the government on Tuesday showed.

The growth rate for the third quarter of India39;s 202223 financial year was below a Reuters forecast of 4.6.

COMMENTARY

RITIKA CHHABRA, QUANTITATIVE PORTFOLIO STRATEGIST, PRABHUDAS LILLADHER, MUMBAI

The Q3 GDP growth rate at 4.4 is on expected lines. The loss in growth momentum is due to fading away of favourable base effect, slowdown in pent up demand due to high inflation and interest rates, and contraction in manufacturing sectors.

Some of the high frequency indicators were already pointing at muted growth for the quarter vs Q2, hence, lower GDP growth rate in Q3 didn39;t come as a surprise.

ADITI NAYAR, CHIEF ECONOMIST, ICRA, GURGAON

Springing a surprise, India39;s YY GDP growth slid to a weakerthanexpected threequarter low of 4.4 in Q3 FY2023, and printed below the GVA gross value added growth of 4.6 for that quarter, amidst revisions in last year39;s data.

Growth relative to the preCOVID level rose quite appreciably to 11.6 in Q3 FY2023 from 9.4 in Q2 FY2023, indicating an improved albeit stubbornly uneven recovery.

RADHIKA RAO, SENIOR ECONOMIST, DBS BANK, SINGAPORE

Headline GDP was a shade below our estimate, even as the mix of…