The Indian economy likely returned to a more normal 6.2% annual growth rate in July-September after double-digit expansion in the previous quarter, but weaker exports and investment will curb future activity, a Reuters poll showed.
In April-June, Asia's third-largest economy showed explosive growth of 13.5% from a year earlier thanks mainly to the corresponding period in 2021 having been depressed by pandemic-control restrictions.
The 6.2% annual growth forecast for latest quarter in a Nov. 22-28 Reuters poll of 43 economists was a tad lower than the RBI's 6.3% view. Forecasts ranged between 3.7% and 6.5%. Although business surveys indicated weakening economic activity in most major economies, where central banks are responding to soaring inflation with higher interest rates, business sentiment has remained relatively strong in India.
"GDP is expected to increase sequentially, led by continued recovery in services. Mining and manufacturing are expected to be a drag. On the demand side, lower global growth hit exports in Q2 ," said Sakshi Gupta, principal India economist at HDFC Bank, adding there were signs that consumption was uneven.outlook. Meanwhile, the RBI raised its key policy interest rate to 5.9% from 4.0% in May and is widely expected to add another 60 basis points by the end of March.
Indonesia Berita Terbaru, Indonesia Berita utama
Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.
India's economy likely slowed to annual 6.2% in July-SeptThe Indian economy likely returned to a more normal 6.2% annual growth rate in July-September after double-digit expansion in the previous quarter, but weaker exports and investment will curb future activity, a Reuters poll showed.
Baca lebih lajut »
India's Oyo Hotels reports smaller loss in July-Sept vs prior qtrSoftBank-backed Indian hotel aggregator Oyo Hotels and Homes Pvt Ltd reported a smaller loss for the July-September period compared with the previous quarter, in an update to its initial public offering prospectus released on Saturday.
Baca lebih lajut »
China's industrial profits drop further as COVID woes take toll on economy By Reuters*CHINA'S INDUSTRIAL PROFITS DROP FURTHER AS COVID LOCKDOWNS TAKE TOLL ON ECONOMY - 🇨🇳🇨🇳
Baca lebih lajut »