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India's July-September growth rises 5.3% on year

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India said on Friday the economy grew by 5.3 per cent in the second quarter to September year-on-year - weaker than the previous quarter and stirring hopes of an interest rate cut to spur investment.

[NEW DELHI] India said on Friday the economy grew by 5.3 per cent in the second quarter to September year-on-year - weaker than the previous quarter and stirring hopes of an interest rate cut to spur investment.

Growth was below the 5.7 per cent expansion logged in the previous three months but the performance still beat consensus market forecasts that the economy would expand by 5.1 per cent in the second quarter, the government said.

AFP