India’s GDP records a growth of 0.4% in the October-December quarter
The Indian economy has come out of a recession as the gross domestic product (GDP) grew by 0.4 per cent in the October-December quarter (Q3) amid coronavirus pandemic, official data showed on Friday.
The GDP growth comes after a contraction in the two previous consecutive quarters, data released by the National Statistical Office (NSO) showed.
The economy had shrunk by an unprecedented 24.4 per cent in the first quarter this fiscal following the coronavirus pandemic and resultant lockdowns. In the second quarter, the GDP declined 7.3 per cent due to a perk up in economic activities.
Meanwhile, the NSO has projected an 8 per cent contraction for the entire financial year 2020-21 (FY21).
The GDP had expanded by 3.3 per cent in the corresponding period of 2019-20.
China's economy grew by 6.5 per cent in October-December 2020, faster than the 4.9 per cent growth in July-September 2020.
(With inputs from PTI)