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Although the economy grew at over 7.5% a year in the mid-1990s, the proportion of Indians living in poverty dropped just one percentage point between 1993-94 and 1997, to 34%, according to the World Bank.
Indeed, in 2004 global output grew at over 5%, its fastest pace in a generation.
Revenue and earnings grew at over 12% CAGR over the last decade — accelerating though the recession.
Consumer spending grew at over 6% a year in the first six months of 1998, the strongest two-quarter growth of this expansion.
With no growth last year to speak of (0.1%) while the world economy grew at over 3%, we are set to continue lagging behind the world for five years.
Indeed, industrial production in March expanded by 5.6%, the slowest on record, which was significantly outpaced by retail sales - a measure of consumption - which grew at over 10%.
Similar(54)
India is also in the race…In 2009, India invested $2.3 billion in clean energy — growing at over 72% over the last 5 years (according to data from Bloomberg New Energy Finance).
This helped to boost construction, which is growing at over 10% a year.
The economy has turned the corner and is growing at over 6%.
Now we have some 21,000 registered website users and it is growing at over 1,000 a month.
Management consulting is a $160 billion industry, projected to grow at over 6% per year.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com