About: http://data.cimple.eu/news-article/b160510f992dcacb170e7dd49295f88ac866e1b07f5eb52cfadbd368

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About: http://data.cimple.eu/news-article/b160510f992dcacb170e7dd49295f88ac866e1b07f5eb52cfadbd368 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, putting it among the worst-performing major advanced and emerging economies, official data showed Friday as coronavirus cases surge past nine million. 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 independence in 1947. After virus-led lockdowns ravaged the globe, the growth recorded by major economies including the United States, Japan and Germany during the September-ended quarter 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 eased, stating that annual output would be 12 percent below pre-virus levels through 2025. vm/amu/leg
schema:headline	India GDP slumps 7.5%, among worst-performing 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 Severe acute respiratory syndrome coronavirus 2 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)

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