Indian economy likely to see record quarterly slump as pandemic hits

Indian economy likely to see record quarterly slump as pandemic hitsIndia's economy likely suffered its largest quarterly slump on record, data is expected to show on Monday, as coronavirus-related lockdowns add to already-declining consumer demand and investment. Economists in a Reuters poll predicted that gross domestic product in world's fifth-largest economy will contract by 18.3% in the June quarter, compared to 3.1% growth in the previous quarter, the worst performance in at least eight years. India has reported over three and a half million cases of the novel coronavirus - third behind only the United States and Brazil.




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