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Summary India's economy grew faster than expected in the three months to the end of June.
It eased some fears about a sharp slowdown in Asias third-largest economy.Growth was 5.5% in the April to June period from a year earlier. Most analysts had forecast a rate of 5.2%.That compares with a 5.3% annual growth rate in the previous quarter.However, there are concerns that a lack of reforms, slowing factory output and investment may hurt long-term growth.Whilst an upside surprise at 5.5%, the pace of growth is undeniably below potential and validates the need for the government to address sluggishness in investment and external sector activity, said Radhika Rao an economist.
