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Financial News: India Economic Growth Slows In June Quarter

India Economic Growth Slows In June Quarter

08/30/2019 - 08:28:00 (RTTNews)

(RTTNews) - India's economy grew at a slower-than-expected pace in the three months to June, preliminary figures from the National Statistics Office showed on Friday.

Gross domestic product grew 5 percent year-on-year, which was much slower than the 5.7 percent expansion economists had forecast.

In the same quarter last year, the economy grew 8 percent.

In the January to March quarter, the economy expanded 5.8 percent, which was the weakest since 2014-15.

In the March quarter, India's growth rate fell behind China's for the first time in nearly two years.

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