India’s GDP Beats Expectations With 4.8 Percent Growth

India’s economic growth rate picked up strongly in the most recent quarter, according to official figures.

The economy expanded at an annual rate of 4.8% in the July-to-September period, up from 4.4% in the previous quarter.

The acceleration was faster than analysts had been expecting.

Asia’s third-largest economy has been weighed down by various factors, such as high inflation, a weak currency and a drop in foreign investment.

This is the fourth quarter in a row that India’s annual growth rate has been below the 5% mark, and the previous quarter’s rate of 4.4% was the lowest for four years.

Earlier this year, the Indian prime minister’s economic advisory council lowered the growth outlook for the current financial year.

It now expects the economy to expand by 5.3% this year, down from its earlier projection of 6.4%.

via BBC

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