India's GDP growth falls to 5.5 percent

India's economic growth languished near its slowest in three years in the quarter that ended in June but was slightly better than expected, signaling the worst may be over for Asia's third largest economy. India's quarterly GDP grew 5.5 percent, driven by a rebound in construction and financial services, provisional government data showed today. Akash Jindal, an economist, in New Delhi said that the figures reflect the slowdown which is being witnessed in India. Jindal said that it is unlikely that there will be reduction in the interest rates in the near future.