India’s Economy Up 7.9 Percent Year-on-Year

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Nov. 30 – India’s economy grew at the fastest pace in 18 months during the July to September period as a surge in manufacturing helped offset a sluggish agricultural sector.

The country’s gross domestic product grew 7.9 percent from a year earlier after rising 6.1 percent in the previous quarter, the Central Statistical Organization reported Monday. The growth was the highest since the January-March quarter of 2008, when the economy expanded 8.6 percent from a year earlier.

According to The Wall Street Journal, the July-September reading was higher than even the most bullish forecast in a Dow Jones Newswires poll of 13 analysts, where the median estimate was for a 6.3 percent increase from a year earlier.

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