Photo: Getty Images the Fall of the Indian economy beat forecasts by economic experts
Activity in the construction industry fell by 50.3 per cent, in the sphere of hotels and transport – 47%, in manufacturing – by 39.3%.
India’s economy in April-June fell by 23.9% compared to the same period of 2019. On Monday, August 31, said platform Trading Economics, citing official data.
Activity in the construction industry fell by 50.3 per cent, in the sphere of hotels and transport – 47%, in manufacturing – by 39.3%. Growth was observed only in agriculture – 3.4%.
Analysts had expected decline in the gross domestic product of India over the previous quarter to 18.3%. In January-March, India’s GDP grew by 3.1%.
The last time the annual decline in the Indian economy was recorded in 1980 by 5.2%.
India is among the three countries most affected by coronavirus infection.
As reported in the second quarter of this year, Canada’s economy dropped by a record 38.7% in annual comparison and went into recession because of the epidemic of the coronavirus.
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