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LATEST NEWS UPDATES | Q2 GDP growth slows to 7.1% from 8.2% in Q1 -TCA Sharad Raghavan

Q2 GDP growth slows to 7.1% from 8.2% in Q1 -TCA Sharad Raghavan

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published Published on Dec 1, 2018   modified Modified on Dec 1, 2018
-The Hindu

Various ratings agencies had predicted such a slowdown in the second quarter due to the impact of rising oil prices on input costs, and also due to the effect of the rupee devaluation.

New Delhi:
Second-quarter GDP growth slowed to 7.1%, from 8.2% in the preceding three-month period, official estimates released on Friday show. Gross Value Added (GVA) growth eased to 6.9% in July-September, from 8%.

The GDP expansion in the corresponding quarter of the last fiscal year was 6.3%, while GVA growth was 6.1%.

Economists said while the slowdown was anticipated, given that oil prices had been high and the rupee had weakened against the dollar during the quarter, the actual numbers had surprised on the downside.

“The general expectation was it would come in anywhere between 7.2% and 7.9%,” said D.K. Srivastava, Chief Policy Advisor at EY India. “It has come down lower than that primarily because of the impact of net exports being in the negative. The growth rate in investment is about 12% but this contribution has been negated by the negative effect of exports.”

The data also show that GDP growth in the first half (April-September) was 7.6%, faster than 6% in the year-earlier period. First-half GVA growth was estimated at 7.4%, up from 5.8%.

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The Hindu, 30 November, 2018, https://www.thehindu.com/business/Economy/gdp-growth-at-71-in-july-sept-quarter-down-from-april-junes-82/article25634777.ece?homepage=true


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