All key sectors of the economy contributed positively to the real GDP growth of 7.8 per cent in the third quarter of 2013 , states the Central Bank in its Monetary Policy Review –December 2013.
The Agriculture sector grew by 7.0 per cent recovering from the contraction observed in the second quarter. The Industry sector grew by 8.1 per cent reflecting a moderation from the higher growth rates observed in the first two quarters of the year, while the Services sector growth accelerated to 7.9 per cent from 6.6 per cent in the previous quarter, the Bank said.
The sound, broad based growth performance in the third quarter strengthens expectations of over 7 per cent economic growth for the year , the Bank further said.
Inflation decreased to 5.6 per cent in November 2013 on a from 6.7 per cent in the previous month, mainly on account of the moderation in prices of both food and non-food items during the month. In the meantime, core inflation continued to decline, and was at its lowest at 2.4 per cent, in November 2013. Annual average inflation also declined to 7.3 per cent in November from 7.6 per cent in the previous month.