The worst is yet to come for India's slowing economy

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India's economy kicked off 2020 with its weakest quarter in at least eight years. But the biggest drop is yet to come.

GDP expanded by 3.1% in the three months to March, according to government data published Friday. That was a faster pace than economists had expected, but still the weakest figure since comparable record keeping began in 2012.

But more pain is on the way for Asia's third-biggest economy. The data for the first three months of the year doesn't fully capture the impact of a nationwide lockdown imposed in late March as authorities sought to stem the spread of the coronavirus pandemic.

 

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