India GDP growth dips to seven-quarter low of 5.4% in July-Sept

Manufacturing and mining drag down growth, while agriculture shows improvement

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People wade through waterlogged roads following heavy rains in Vijayawada, in the southern state of Andhra Pradesh on Sept. 4. © Reuters

KIRAN SHARMA, Nikkei staff writer

NEW DELHI -- India's economy grew 5.4% on an annual basis in the July-September quarter, far below expectations and marking the slowest pace in seven quarters, amid a "sluggish" performance by sectors such as manufacturing and mining, government data showed on Friday.

The official data was significantly below a Reuters poll of 54 economists, which pegged gross domestic product growth at 6.5% for the second quarter of the financial year.

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