Connect to Us LinkedIn Youtube RSS

GLOBAL SLOWDOWN? INDIA'S ECONOMY IS ACCELERATING

Aruba, September 10, 2018 - India's economy is racing ahead, shrugging off global trade tensions and a sharp fall in its currency.

The country's gross domestic product grew 8.2% in the quarter ended June, according to official data released Friday.
 
That's a big jump from the 7.7% it delivered in the previous quarter, and widens India's growth gap over other major economies, including regional rival China.
 
The much larger Chinese economy grew 6.7% in the quarter ended June.
The Indian government cited an expansion in manufacturing and construction as key factors in the sharp spike in growth.
 
"Indian GDP growth beat most expectations in [the latest quarter] and is likely to continue expanding rapidly over the coming months," Shilan Shah, India economist at Capital Economics, said in a note.
But it's not all good news. Inflation has been rising, prompting the country's central bank to hike interest rates twice in three months, and India's currency — the rupee — hit a new record low against the dollar on Friday. The weak currency is driving up the price of imported goods.
 
 

By orbitalnets.com