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Financial News: India Economy Logs Double-Digit Growth

India Economy Logs Double-Digit Growth

08/31/2022 - 08:40:00 (RTTNews)

(RTTNews) - India's economy logged a double-digit growth in the quarter ended June, data published by the National Statistical Office showed Wednesday.

Gross domestic product advanced 13.5 percent in three months to June but slower than the 15.2 percent expected growth. In the same period last year, GDP had expanded 20.1 percent. The Reserve Bank of India had forecast the economy to expand at 7.2 percent in 2022-23. Data showed that the gross value added climbed 12.7 percent in the June quarter compared to 18.1 percent in the previous year.

Another official data released earlier on Thursday showed that core sector output growth eased to 4.5 percent in July from 13.2 percent in June.

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