Indian economy contracts 7.5% in July-September quarter amid COVID-19 outbreak – Business News , Firstpost

The GDP had expanded by 4.4% in the corresponding July-September interval of 2019-20, in keeping with NSSO knowledge

Representational picture. Reuters

New Delhi: The Indian economy contracted by 7.5 p.c in the July-September quarter of this fiscal amid the COVID-19 disaster, official knowledge confirmed on Friday.

The gross home product (GDP) had expanded by 4.Four p.c in the corresponding July-September interval of 2019-20, in keeping with knowledge launched by the National Statistical Office (NSO).

The economy had shrunk by an unprecedented 23.9 p.c in the primary quarter of this fiscal because of the coronavirus pandemic and resultant lockdowns.

China’s economy grew by 4.9 p.c in July-September this 12 months, quicker than the three.2 p.c development in April-June 2020.

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