India logs 7.8 percent quarterly growth after data overhaul

Gross domestic product rose 7.8 percent in the October-to-December quarter from the same period a year earlier, according to data from the statistics ministry. While growth slipped from the 8.4 percent recorded in the previous quarter, it edged past market expectations of 7.6 percent. Aditi Nayar of ratings agency ICRA said the GDP growth number was "healthier than what we had expected". "The moderation was expectedly driven by the agriculture and the non-manufacturing industrial sectors," she said in a note.