India's economy entered a recession in the September quarter though the pace of contraction slowed markedly due to the relaxation of lockdown measures, official data revealed Friday. Gross domestic product fell 7.5 percent year-on-year, slower than the record 23.9 percent contraction posted in the June quarter, data from the statistics ministry showed.
With the second consecutive fall in GDP, the economy entered a technical recession. Nonetheless, the pace of fall in GDP was slower than the economists' forecast of -8.8 percent. In the same period last year, GDP was up 4.4 percent.
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