India GDP Growth Beats Expectations

(RTTNews) - India's economic growth accelerated unexpectedly in the June quarter, official data showed on Friday.

Gross domestic product logged an annual growth of 7.8 percent in the June quarter, faster than the 7.4 percent expansion seen in the March quarter. The rate was expected to slow to 6.6 percent. Moreover, the 7.8 percent rise was the fastest in five quarters.

The expenditure-side of GDP showed that private consumption and government spending advanced 7.0 percent and 7.4 percent, respectively.

Gross fixed capital formation increased 7.8 percent in the June quarter. Exports rose 6.3 percent and imports climbed 10.9 percent, data showed.