India’s economic growth accelerates from July to October

According to media reports, India’s GDP grew 6.3% on a yearly basis from July to October following the previous quarter’s growth of 5.7%.

The country’s economic growth suggested a rebound from the previous quarter, when there was a sharp decrease to a three-year low. However, the 6.3% growth still fell short of the analysts’ expectations.

The Nikkei India manufacturing Purchasing Managers’ Index also rose to a 13-month high of 52.6 in November from last month’s 50.3 on the back of rising output, according to the reports. A reading above 50 indicates economic expansion, while a reading below that points to contraction.