India GDP Growth Slows To 6.6%
February 28 2019 - 4:50AM
RTTF2
India's economic growth slowed in the three months to December,
figures from the statistics ministry showed on Thursday.
Gross domestic product grew 6.6 percent year-on-year in the
October to December quarter, after expanding 7 percent in the
previous three months. Economists had forecast growth of around 6.9
percent. Growth was 8 percent in the April to June quarter.
Weaker consumption and investments were to blame for the latest
slowdown in growth.
The ministry trimmed the growth estimate for the fiscal year
ending March 31 to 7 percent from 7.2 percent. Economists fear
India's economic growth could slow if the ongoing political and
military tensions with Pakistan escalate. The upcoming general
election is also a crucial factor that could determine the
direction of the economy.
Despite the slower growth rate, India remained the fastest
growing emerging economy in the October-December quarter, outpacing
China's 6.4 percent.
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