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Friday, November 27, 2020
India's GDP contracts 7.5% in Q2, enters technical recession

India's GDP contracts 7.5% in Q2, enters technical recession

India's economy recovered faster than expected in the September quarter as a pick-up in manufacturing helped GDP clock a lower contraction of 7.5% and held out hopes for further improvement on consumer demand bouncing back. The GDP had contracted a record 23.9 per cent in the first quarter of 2020-21 fiscal as the Covid lockdown pummelled economic activity. The second straight quarter of contraction pushed India to its first technical recession.