India’s economy expands 7.3% in Oct-Dec period
According to media reports, government data showed that India’s economy grew 7.3% in the October-December period, the third quarter of the Indian financial year beginning April 1. Meanwhile, the country’s economy is expected to expand 7.6% in the current Indian financial year.
The growth was attributed to higher consumer and government spending as well as an increase in manufacturing output, which surged 12.6% in the third quarter.
India’s Q3 economic growth rate also outpaced that of China, whose economy grew 6.8% in the same period.