India's GDP growth drops to 5%



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The country's gross domestic product has only increased by 5% over the three months ending in June, according to government data released on Friday. This compares to a growth of 8% in the same period last year. It was also a significant decrease compared to the 5.8% growth recorded in the previous quarter.

The data indicate that Asia's third economy is growing at its slowest pace for over six years.

Several sectors of the Indian economy have been struggling in recent months – the country's auto industry has already lost hundreds of thousands of jobs and consumer goods companies like Unilever (UL) would reduce prices due to slowing demand.

This story will be updated.

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