India’s gross-domestic-product expansion last quarter strengthened to the highest level in more than a year as businesses adapted to the South Asian nation’s new sales tax regime.
GDP of Asia’s third-largest economy grew 7.2% in the three months through December compared to a year earlier, according to government data issued Wednesday.
That beat economists’ prediction of a 6.9% rise and was significantly better than the 6.5% and 5.7% expansion in the previous two quarters.
Growth had slowed to a three-year low earlier last year as confusion over the nation’s new Goods and Services Tax hurt businesses.
Source: Dow Jones