Economics

India’s Economy Bounces Back From Three-Year Low

GDP grew 6.3 percent versus survey estimate of 6.4 percent
Stronger growth indicates India is now ‘turning the corner’

Barclays’s Siddhartha Sanyal discusses India’s 3Q GDP figures, inflation and his outlook for the RBI.(Source: Bloomberg)

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By Anirban Nag and Vrishti Beniwal

November 30, 2017 at 12:09 PM UTC

Updated on

December 1, 2017 at 5:42 AM UTC

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India’s economic growth bounced back from a three-year low, giving the central bank enough ammunition to keep interest rates on hold Dec. 6 amid an uptick in inflationary pressures.

Gross domestic product in Asia’s third-largest economy expanded 6.3 percent in July to September from a year earlier, the Statistics Ministry said in a statement in New Delhi on Thursday. That’s slower than the 6.4 percent median estimate in a Bloomberg survey of 51 economists but faster than 5.7 percent in the previous quarter. Gross value added, a key input of GDP tracked by the central bank, rose 6.1 percent compared with an estimated 6.2 percent gain.