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Economy may have picked up in September quarter before Omicron spread: Report

11:01 AM Nov 30, 2021 | FPJ Web Desk

India's economic recovery strengthened in the July-September quarter, helped by a pick-up in consumer spending, though the spread of the Omicron coronavirus variant raised fears for the future, according to Reuters.

Asia's third-largest economy has been seeing a rebound from last year's deep slump, boosted by rising vaccination rates and a pick-up in government spending.

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A Reuters survey of 44 economists projected GDP data - due out at 1200 GMT on Tuesday - will show 8.4 percent year-on-year growth in the September quarter, the fastest pace among major economies, vs a 7.5 percent contraction in the same quarter last year.

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(With inputs from Reuters)

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