Hong Kong (CNN Business) India's economy kicked off 2020 with its weakest quarter in at least eight years. 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. The lockdown has led to significant decline in activity, according to Shilan Shah, senior India economist at Capital Economics. He said in a research note published before the GDP data was released that "almost every economic indicator" has experienced the "sharpest drop on record."

Source: CNN May 29, 2020 13:51 UTC