India’s economy grew at its fastest pace in a year in the April-June quarter, driven by services and manufacturing, data is expected to show on Thursday, though economists warn of a slowdown ahead.
According to the median forecast in a Reuters poll of economists, India’s gross domestic product (GDP) grew 7.7% in the past quarter, up from 6.1% growth in the previous quarter and its fastest expansion since April-June 2022.
Economists say lower commodity prices helped manufacturers increase margins and offset the impact of 250 basis points of cumulative interest rate increases since May 2022.