Economics
India’s GDP Expands Most in a Year Amid Signs Pace Will Slow
- Growth was below economists’ median estimate for a 15.3% rise
- Rising interest rates may hold back fragile demand recovery
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India’s economy expanded at the fastest clip in a year, fueled by domestic demand that may moderate in the face of rising borrowing costs and global slowdown.
Gross domestic product rose 13.5% in the April-June period from a year ago, data released by the Statistics Ministry on Wednesday show. That’s the quickest pace since the 20.1% growth in the same quarter last year and compares with the median forecast of a 15.3% increase in a Bloomberg survey of economists.