Services sector growth expected to remain steady
ICRA expects the pace of growth of real GDP at factor cost to print at 5.5% in Q1FY15 as compared to 4.6% in Q4FY14, with a pickup in industrial growth (3.8% in Q1FY15; -0.2% in Q4FY14) partly benefiting from the favourable base effect.Moreover, the performance of the services sector is expected to remain steady (6.5% in Q1FY15; 6.4% in Q4FY14), offset by a moderation in the growth of agriculture in Q1FY15 (3.0%; 6.3% in Q4FY14).
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