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India's Economic Slide Called 'Extremely Concerning'

DAVID GREENE, HOST:

NPR's business news starts with a downturn in India.

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GREENE: Economists had predicted that the growth of Asia's third-largest economy would continue to slow this year. But the latest data suggests the Indian economy is in worse shape than many analysts thought. The country's growth in the first quarter of this year was only 5.3 percent, compared to 9.2 percent last year. It's India's worst growth performance since 2003.

Officials call it an extremely concerning trend that is being made worse by corruption, bureaucracy and inflation. Transcript provided by NPR, Copyright NPR.