India says 3Q growth faster than China's at 7.3 percent

AP News
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Posted: Feb 08, 2016 8:36 AM

NEW DELHI (AP) — India said its economy grew 7.3 percent in the last three months of 2015, a rate of expansion that puts the South Asian nation ahead of China's 6.8 percent growth during the same period.

The data released Monday by the Indian Central Statistics Office shows a slight downturn for India from the previous quarter, when the country registered growth of 7.4 percent.

The government has reported quarterly growth rates that have surpassed China's over the last year. It estimated the annual growth rate for 2015-16 will be 7.6 percent, a rise from last year's 7.2 percent growth in gross domestic product.

The statistics office said the strongest growth is expected to come from the financial sector, tourism and manufacturing, while the agricultural and defense sectors remained weak.