India's Economic Growth Unexpectedly Picks Up Speed
India's economy unexpectedly accelerated in the April-June quarter, as stronger government spending offset moderating industrial activity.
Official data Friday showed that India's economy grew 7.8% from a year earlier, up from 7.4% in the prior quarter. That topped the 6.6% median forecast in a Wall Street Journal poll, in which all 12 economists had predicted a slowdown.
Manufacturing activity edged higher, with growth at 7.7% versus 7.6% a year earlier. Construction slowed, while mining and quarrying contracted on year. Agriculture grew 3.7%...
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