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India’s GDP growth beats RBI forecast in June quarter, expands 7.8%
Developing
“Despite the supply shocks and higher commodity prices due to the Iran war, the growth resilience reflects a troika of factors: 1) the limited pass-through of retail fuel prices and low inflation; 2) the government’s deft supply-side management and continued focus on public capex; and 3) de-escalation of trade tensions with the US,” Nomura economists said in a note on Friday following the release of industrial production data for July, which said output rose 6.7% following an 8.8% expansion in June.
Reforms undertaken… According to Madhavi Arora, Chief Economist at Emkay Global Financial Services, the strong Q1 GDP growth number “validates the cyclical upturn in the economy” which is being reflected in a broad range of high-frequency indicators, including corporate earnings.
However, data released on Monday by the Ministry of Statistics and Programme Implementation (MoSPI) suggests the Indian economy has weathered the energy storm.
What's confirmed
What's still developing
- Reforms undertaken… According to Madhavi Arora, Chief Economist at Emkay Global Financial Services, the strong Q1 GDP growth number “validates the cyclical upturn in the economy” which is being reflected in a broad…
- However, data released on Monday by the Ministry of Statistics and Programme Implementation (MoSPI) suggests the Indian economy has weathered the energy storm.
- “Despite the supply shocks and higher commodity prices due to the Iran war, the growth resilience reflects a troika of factors: 1) the limited pass-through of retail fuel prices and low inflation; 2) the government’s…
Sources
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