India posts better-than-expected Q3 GDP growth
MUMBAI - Third quarter GDP growth in India rose to 4.8% y/y from a four- year low of 4.4% y/y in Q2. The pickup was led by strong agricultural output, as anticipated, on the back of favourable weather conditions and unexpectedly high industrial output, which offset a slowdown in services growth (5.9% y/y vs 6.6% previously). From the expenditure side, headline growth was driven by strong exports.