February 28, 2020 / 12:28 PM / a month ago

India's economic growth slows to 4.7% y/y in Dec qtr

NEW DELHI, Feb 28 (Reuters) - India’s economy grew 4.7% in the December quarter from a year ago, slowing from the previous quarter, official data showed on Friday.

The read-out for the December quarter matched the forecast of analysts in a Reuters poll, but was below a revised 5.1% growth rate for the previous quarter.

The revision for the September quarter was up sharply from the 4.5% preliminary report, which would have been the weakest growth in more than six years.

Prime Minister Narendra Modi’s government took several steps earlier this month to try to bolster economic growth, including increasing state spending on infrastructure, but many economists expect the impact of those efforts to be outweighed by the global fallout from the coronavirus epidemic spreading out of China. (Reporting by Manoj Kumar; Editing by Alex Richardson)

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