India’s economic growth plunges to six-year low of 5%

India’s economic slump is getting even deeper.

The country’s gross domestic product grew by just 5% in the three months to June, according to government data released Friday. That compares with growth of 8% in the same period last year. It was also a huge drop from growth of 5.8% recorded the previous quarter.

The data mean Asia’s third biggest economy is now growing at its slowest pace in over six years.

Several sectors of the Indian economy have been struggling in recent months — the country’s automotive industry has already shed hundreds of thousands of jobs, and consumer goods companies like Unilever (UL) are reportedly slashing prices because of slowing demand.

This story will be updated.