GDP Growth Slows To 5% In April-June Quarter, Here Are The Updates
India's GDP or gross domestic product grew 5 per cent in quarter ended June 30, the slowest in more than six years, government data showed on Friday. That was below economists' expectations, and lower than 5.8 per cent in the previous quarter. A survey of economists by news agency Reuters had forecast GDP growth at 5.7 per cent in the June quarter. For April-June 2018, India reported 8 per cent growth. Analysts say that weak consumer demand and private investments are reasons behind the slowdown in the economy. The Reserve Bank of India earlier this month while cutting the repo rate by 35 basis points lowered real GDP or gross domestic product projection for the current year to 6.9 per cent, from 7 per cent.