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Financial News: India Economic Growth Slows In June Quarter

India Economic Growth Slows In June Quarter

08/30/2019 - 10:45:00 (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. The pace of growth was reportedly the slowest in over six years.

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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