Economics
India Posts World-Beating Growth to Shrug Off Trade War Fears
- Economists predicted GDP expansion of 7.6% in June quarter
- Manufacturing growth, consumption drive economic expansion
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India’s economy expanded at the fastest pace in nine quarters, as strong domestic consumption and robust manufacturing growth overwhelmed any global trade-war worries.
Gross domestic product grew 8.2 percent in the three months ended June, from a year earlier, the Statistics Ministry said in a statement in New Delhi on Friday. That was faster than the 7.6 percent median estimate in a Bloomberg survey of 42 economists. Only one economist, Saugata Bhattacharya of Axis Bank Ltd., accurately predicted the pace.