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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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza