Annual GDP growth came in at 7.8%, exceeding the market forecast of 7.1%. The reading matched the previous period.
What the data measures
The year-on-year GDP growth rate tracks how much an economy has expanded over the past twelve months. It is a key measure of economic health and activity across all sectors.
The forecast beat
Economists had expected growth of 7.1%. The actual figure of 7.8% came above expectations, suggesting the economy performed better than anticipated. The pace held steady from the previous period, indicating consistent momentum.
