Moody's cut India's GDP growth forecast to 5.6% for 2019

01:36:00 PM, Thursday 14th of November 2019 | in business

Moody’s Investors Service on Thursday cut India’s economic growth forecast for the current year to 5.6% from 5.8% estimated earlier. Moody's said the GDP slowdown was lasting longer than it expected. "India’s economic growth has decelerated since mid-2018, with real GDP growth slipping from nearly 8 percent to 5 percent in the second quarter of 2019 and joblessness rising," the Investors Service said.