The economy turns around as third-quarter GDP growth lifts future prospects

Looking at sectoral growth rates, Q3 benefited from manufacturing growing by 8.1% and agriculture by 4.1%

When the Central Statistics Office (CSO) released the first advance estimates (FAE) of national income in early January, the central message was that economic growth had hit the bottom; the only way forward was up. The second advance estimates (SAE) released on Wednesday suggest that the Indian economy may finally be getting out of the woods. That is because the quarterly estimate of gross domestic product (GDP) for the third quarter (Q3), which was also released alongside, showed that GDP grew by 7.2 per cent in October to December 2017. Moreover, the Q2 GDP growth estimate was revised from 6.3