India Cuts Its Annual GDP Growth Rate To 6.9%
The India government has cut its growth forecast for the fiscal year that ends in March. The decision come at a time when economist expect the other major developing nations–China–to lose economic momentum. The IMF says a slowdown in Europe…
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The India government has cut its growth forecast for the fiscal year that ends in March. The decision come at a time when economist expect the other major developing nations–China–to lose economic momentum. The IMF says a slowdown in Europe could cut China’s growth rate from 8.4% to 4.4%. That would be a massive change for a nation which has grown at over 10% for a decade.
India’s new number is 6.9%,which would take growth below 7% for the first time since the global recession.
China, and India, based on concerns about GDP are the latest in a long line of signals that Europe could wreck the economy well beyond its own borders
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