Steady progress in vaccination and improved consumer sentiment are also supported by the gradual recovery of the services sector through the relative resilience of the industrial sector, improved mobility, export buoyancy and improved government capital investment. The domestic rating agency said.
The resurgence of economic activity is also supported by the rating agency’s own Acuité Macroeconomic Performance (AMEP) index. The index recorded a continuous quarterly increase of 7.2% in the second quarter of 2010, from a 9.3% reduction in the first quarter of 2010.
India’s GDP and gross value added were 8.5% year-on-year (year-on-year) and 7.5 year-on-year in the second quarter of this year (second quarter of 2010), with support from a good statistical base and gradual elimination. It is expected to increase by%. According to Acuité Ratings & Research, most states have restricted blockades towards the end of the first quarter.
The rise in sequential prints was primarily driven by the recovery of several consumption indicators such as industrial activity, especially manufacturing, passenger transport, exports, and road bills, goods and services tax collection, car sales, and gasoline consumption.
The company expects continuous printing of GDP and GVA to record a significant increase in the second quarter of 2010, from a 16.9% reduction in the first quarter of 2010. As highlighted in the AMEP index, growth momentum in October this year has risen significantly, with most high-frequency indicators recovering above pre-pandemic levels.
However, in the first half of November, rating agencies noticed some gradual slowdown in economic activity due to seasonality due to the Diwali holidays.
Global inflation appears to be inherently longer than previously expected, which could lead to a faster normalization of monetary policy in some developed economies, reflecting rising financial market volatility. The company added that it would cloud a stronger growth outlook.
Fiber2Fashion News Desk (DS)
India’s GDP for the second quarter of 2010 is expected to grow 8.5% year-on-year: Acuité Ratings
Source link India’s GDP for the second quarter of 2010 is expected to grow 8.5% year-on-year: Acuité Ratings