THE ECONOMY sprung a surprise in July-September 2023-24, recording a 7.6 per cent growth in the second quarter, considerably higher than the consensus estimate. The surge was largely led by the manufacturing sector which jumped 13.9 per cent year-on-year in the second quarter, helped by a favourable base and improved volume growth, data released by the National Statistical Office (NSO) on Thursday showed.
With the latest print, GDP growth during the first half of the year — April-September 2023 — added up to 7.7 per cent compared with 9.5 per cent in the year-ago period. The GDP had recorded a four-quarter high growth of 7.8 per cent in April-June this year, and had grown 6.2 per cent in July-September 2022.
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