It seems India will race ahead of China in Economic growth for the October- December Quarter owing to the good demand growth, pick up in manufacturing and services. At the same time, everyone is also looking at the GDP data to be released later in the day.
It is also important since the last few GDP data didn’t quite match up to the expectations. A Reuters poll report has shown that India’s growth in the December quarter was 6.9 percent, the best pace in 2017.
Forecasts ranged from 6.4 percent to 7.3 percent. It is reported that if India is able to achieve a target of 6.9 GDP growth then it will surpass China’s 6.8. The last time such a faster growth rate achieved by India was during the last three quarters of 2016.
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If India is able to achieve 6.9 data then it will also be a good growth form the 6.3 GDP India achieved during July-September quarter. Which was also an upgrade from the 5.7 growth achieved in the first quarter.
This growth rate is the result of improved manufacturing and service sector which overcome many of the problems earlier associated with GST.
According to the report, corporate revenue trends, which track industry GVA growth closely, also improved further in the December quarter.
Another important poll finding is the growth achieved in the auto and two-wheeler sales.
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