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About: http://data.cimple.eu/news-article/7ff9338ffb272aa4fb1fbf25a8772c04962cc9bc02f97d2993d1b473 Goto Sponge NotDistinct Permalink

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rdf:type	schema:NewsArticle
schema:articleBody	India's economy contracted 7.5 percent between July and September, performing the poorest among major advanced and emerging economies and entering a technical recession for the first time since independence, official data showed Friday. Although the figures were an improvement on the record 23.9-percent contraction recorded last quarter, they indicate that Asia's third-largest economy is in for a tough fight as it attempts to revive demand and create jobs. The two successive quarters of contraction mean that the country has now entered a "technical recession" for the first time since 1947. After virus-led lockdowns ravaged the globe, the growth recorded by major economies including the United States, Japan and Germany during the quarter ending on September 30 raised expectations that India would also enjoy a revival. But, while consumer businesses saw a boost due to increased spending in the run-up to the October-November festive season, hopes of a broader recovery were dashed, with the construction and hospitality sectors taking a hit. New Delhi has struggled to kick-start an economy that is expected to shrink 9.5 percent this year, according to estimates released by India's central bank governor Shaktikanta Das last month. The International Monetary Fund has meanwhile predicted that India's economy would contract by 10.3 percent this year, the biggest slump for any major emerging economy and the worst since independence. A report by Oxford Economics released earlier this month said that India would be the worst-affected economy even after the pandemic eases, stating that annual output would be 12 percent below pre-virus levels through 2025. vm/amu/stu/je
schema:headline	India GDP slumps 7.5%, worst among major economies
schema:mentions	Virtual machine Shaktikanta Das USA Gymnastics New Delhi Recession Asia International Monetary Fund University of Oxford Germany Gross domestic product Pandemic India United States Atomic mass unit DASHED Economy of Japan
schema:author	http://data.cimple.eu/organization/1f0054d541e000623a2c1e561a247c073ef6328e8be9ffafda7b3fcd
schema:datePublished	2020-11-27 (xsd:date)
http://data.cimple...sPoliticalLeaning	other political leaning
http://data.cimple...logy#hasSentiment	negative sentiment
http://data.cimple...readability_score	77 (xsd:integer)
http://data.cimple...tology#hasEmotion	fear

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