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India's GDP growth slows to 5.4% in October-December

Government pegs full-year growth at 8.9% amid uneven COVID recovery

People shop at a market in New Delhi in December. The Indian central bank's governor says consumption "continues to trail its pre-pandemic level."   © Reuters

NEW DELHI -- India's economy grew 5.4% in the three months through December, slower than the first two quarters of the financial year that began in April 2021, as a broad-based recovery from COVID-19 disruptions remained elusive.

Ahead of the data release, a Reuters poll of 38 economists had put the median year-on-year growth forecast at 6% for the October-December quarter. In the previous quarters of July-September and April-June, India's gross domestic product had expanded 8.5% and 20.3%, respectively -- coming off a low base in 2020, which brought some of the world's strictest lockdowns.

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