India’s Blowout GDP Based on Data Distortion That Masks Slowdown

Government reported GDP growth of 8.4%, beating all estimates
One key measure of activity shows slowdown in economy

WATCH: India’s growth accelerated to more than 8% in the last quarter of 2023. Ruchi Bhatia reports.Source: Bloomberg

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By Ruchi Bhatia and Dan Strumpf

February 29, 2024 at 12:07 PM UTC

Updated on

March 1, 2024 at 9:55 AM UTC

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India’s surge in economic growth to above 8% last quarter was distorted by a single category, economists said, suggesting the strong numbers may not be repeated as other signs point to slowing momentum.