28.02.201909:50:00UTC+00India GDP Growth Slows To 6.6%

India's economic growth slowed in the three months to December, figures from the statistics ministry showed on Thursday.

Gross domestic product grew 6.6 percent year-on-year in the October to December quarter, after expanding 7 percent in the previous three months. Economists had forecast growth of around 6.9 percent. Growth was 8 percent in the April to June quarter.

Weaker consumption and investments were to blame for the latest slowdown in growth.

The ministry trimmed the growth estimate for the fiscal year ending March 31 to 7 percent from 7.2 percent. Economists fear India's economic growth could slow if the ongoing political and military tensions with Pakistan escalate. The upcoming general election is also a crucial factor that could determine the direction of the economy.

Despite the slower growth rate, India remained the fastest growing emerging economy in the October-December quarter, outpacing China's 6.4 percent.