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Net trade accounted for half of the overall GDP expansion.
During the five-year tenure of the Narasimha Rao government (1991-96), the average annual GDP expansion was 6.7percentt.
Germany is doing all the hard work in the vanguard of strong recovery as its 0.7% second-quarter GDP expansion showed.
Official statistics put the quarterly rate of GDP expansion at 0.7%, confirming an earlier estimate, thanks to support from domestic demand and construction spending.
The quarterly performance beat growth in the UK, which reported a slowdown to 0.4% GDP expansion earlier this week and also outperformed the world's biggest economy, the US.
Despite the latest slowdown in quarterly growth, economists forecast a solid pace of GDP expansion for the year as a whole.
Similar(39)
An example of this situation is displayed in Fig. 2 presented earlier, which shows the kernel estimates for the empirical distribution of per capita real GDP in expansions and in recessions.
In a country used to no growth, an expansion of GDP by over a fifth would have a colossal effect.This raises two questions.
The CBI warned that despite two years of economic expansion, UK GDP will still not have returned to its pre-recession level by the end of 2011, highlighting the depth of the recession and the weakness of the economic recovery.
They point to the huge improvement in the economic situation, with a 4.7% expansion of GDP last year, the first growth in a decade, as well as the reopening of schools and hospitals.
The headline Markit Eurozone PMI recorded 52.1 in October, down slightly from an average of 52.8 in the third quarter and running at a level signalling another modest 0.2% expansion of GDP in the fourth quarter.
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