At -7.5%, GDP Rebounds But India Now In Technical Recession

Economists hope business activity has pick up after months of coronavirus-caused slowdownIndia's gross domestic product (GDP) contracted 7.5 per cent in the July-September period, as the economy rebounded from a record slump of 23.9 per cent in the previous quarter due to slowdown caused by the coronavirus pandemic. Today's data confirms the economy's first technical recession - which is two consecutive quarters of contraction in GDP - since 1996, when the country began quarterly records.