India: Economy grew 4.5% in Q3 vs. 4.7% expected

Indian economy lost momentum in the third quarter.
The USD/INR pair continues to trade in daily range despite dismal data.

Eren Sengezer FXStreet

The data published by the Ministry of Statistics on Friday revealed that the Gross Domestic Product (GDP) in India expanded by 4.5% in the quarter ending September following the %5 growth recorded in the second quarter and fell short of the market expectation of 4.7%.

Further details of the report showed that the manufacturing sector and the farming sector grew by 1% and 2.1%, respectively, in the same period.

The USD/INR pair largely ignored this data and was last seen trading at 71.7000, adding 0.28% on a daily basis.

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

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