Live Streaming
Interviews
Video Streaming
Tuesday, 01 September 2020 13:37

India GDP shows worst quarterly slump in decades

Written by 
Rate this item
(0 votes)

PHOTO : INDEPENDENTNEWSPAPPERNIGERIA  

India's economy contracted sharply in the three months to the end of June, official data shows. As stated by BBC.com Monday (31/8) it shrank by 23.9%, its worst slump since the country started releasing quarterly data in 1996. The coronavirus pandemic and a grinding lockdown caused massive disruptions to economic activity during the quarter. Experts fear that India is staring at a recession - that will happen only if it reports contraction in the next quarter as well, which experts say is likely. A country is considered to be in recession if it reports contraction for two successive quarters. India was last in recession in 1980, its fourth one since independence//BBC

Read 126 times