India’s economy likely expanded at its weakest pace in more than five years in April-June, a Reuters poll showed, as consumer demand and private investment weakened at a time global trade frictions have dampened business sentiment.

The median figure from the poll of economists is for annual growth in gross domestic product of 5.7 per cent in the quarter, compared with 5.8 per cent in the previous three months and 8 per cent for the same period of 2018.

If the latest number for expansion of gross domestic product is 5.7 per cent or less, the quarter had the slowest expansion in 21 quarters, since 5.3 per cent in January-March 2014.

“Economic growth is collapsing,” said Sunil Sinha, principal economist at India Ratings, the Indian arm of Fitch, noting that April-June likely was the fifth straight quarter of slowing since 8.1 per cent in the first three months of 2018.

He said the slowdown has been driven by a fall in household savings and banks’ increased bad loans, which has hit private investment.

“India’s economic slowdown could continue for next 2-3 years as the economy faces serious structural issues of a slowdown in consumer demand and decline in manufacturing growth,” Sinha said.