Indian economy likely to see record quarterly slump as pandemic hits

India's economy likely suffered its largest quarterly slump on record, data is expected to show on Monday, as coronavirus-related lockdowns add to already-declining consumer demand and investment. Economists in a Reuters poll predicted that gross domestic product in world's fifth-largest economy will contract by 18.3% in the June quarter, compared to 3.1% growth in the previous quarter, the worst performance in at least eight years. India has reported over three and a half million cases of the novel coronavirus - third behind only the United States and Brazil.

from Yahoo News - Latest News & Headlines https://ift.tt/2DhihXo